Sei Investments Co. Trims Stake in Baker Hughes (NASDAQ:BKR)

Sei Investments Co. lowered its holdings in Baker Hughes (NASDAQ:BKR) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 901,222 shares of the company’s stock after selling 107,210 shares during the quarter. Sei Investments Co.’s holdings in Baker Hughes were worth $36,968,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $640,000. Burney Co. increased its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC purchased a new stake in shares of Baker Hughes during the 4th quarter valued at $1,180,000. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares during the last quarter. Finally, Czech National Bank grew its position in Baker Hughes by 6.0% in the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.1 %

NASDAQ BKR opened at $44.60 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The stock has a market cap of $44.16 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The stock has a 50 day simple moving average of $44.96 and a two-hundred day simple moving average of $41.50.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.06.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.