Sienna Gestion Takes Position in Baker Hughes (NASDAQ:BKR)

Sienna Gestion bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 268,778 shares of the company’s stock, valued at approximately $9,449,000.

Other hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management raised its position in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in Baker Hughes in the first quarter worth approximately $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes during the 2nd quarter worth approximately $42,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at approximately $48,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares in the company, valued at $23,759,868.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 0.2 %

Baker Hughes stock opened at $34.67 on Thursday. The stock has a 50 day moving average of $35.12 and a two-hundred day moving average of $33.59. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The stock has a market capitalization of $34.60 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.54 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Morgan Stanley dropped their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.19.

Baker Hughes Profile

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.