SeaCrest Wealth Management LLC Invests $27,000 in Baker Hughes (NASDAQ:BKR)

SeaCrest Wealth Management LLC bought a new position in Baker Hughes (NASDAQ:BKRGet Rating) during the second quarter, HoldingsChannel.com reports. The fund bought 924 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently modified their holdings of BKR. JPMorgan Chase & Co. grew its stake in shares of Baker Hughes by 312.7% in the first quarter. JPMorgan Chase & Co. now owns 19,252,385 shares of the company’s stock worth $700,977,000 after acquiring an additional 14,587,722 shares during the last quarter. Capital World Investors lifted its holdings in shares of Baker Hughes by 9.4% during the first quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock valued at $4,241,658,000 after purchasing an additional 10,021,569 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Baker Hughes by 9.0% during the first quarter. Vanguard Group Inc. now owns 103,492,752 shares of the company’s stock valued at $3,768,172,000 after purchasing an additional 8,563,026 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Baker Hughes by 9.9% during the first quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock valued at $3,450,984,000 after purchasing an additional 8,526,488 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Baker Hughes by 104.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,411,529 shares of the company’s stock valued at $185,101,000 after purchasing an additional 3,280,083 shares in the last quarter. 96.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Baker Hughes to $38.00 in a report on Thursday, October 20th. Wells Fargo & Company downgraded Baker Hughes from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $32.00 to $29.00 in a report on Wednesday, October 26th. They noted that the move was a valuation call. Royal Bank of Canada lowered their price target on Baker Hughes from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, October 20th. Morgan Stanley increased their target price on Baker Hughes from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 20th. Finally, Citigroup lowered their target price on Baker Hughes from $40.00 to $36.00 in a report on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Baker Hughes Stock Down 2.2 %

NASDAQ BKR opened at $28.83 on Thursday. The stock’s 50-day moving average price is $25.69 and its 200-day moving average price is $27.86. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $39.78. The company has a market capitalization of $29.07 billion, a P/E ratio of -62.43 and a beta of 1.52.

Baker Hughes (NASDAQ:BKRGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 0.86 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a dividend of $0.19 per share. The ex-dividend date was Friday, November 4th. This represents a $0.76 annualized dividend and a dividend yield of 2.64%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.18. Baker Hughes’s dividend payout ratio (DPR) is currently -165.22%.

Insider Buying and Selling

In related news, Director Gregory D. Brenneman sold 85,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the completion of the sale, the director now owns 16,842 shares in the company, valued at $525,975.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Baker Hughes news, EVP Neil Saunders sold 118,492 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total transaction of $3,630,594.88. Following the completion of the transaction, the executive vice president now owns 54,417 shares in the company, valued at approximately $1,667,336.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory D. Brenneman sold 85,000 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $31.23, for a total value of $2,654,550.00. Following the transaction, the director now owns 16,842 shares of the company’s stock, valued at approximately $525,975.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,492 shares of company stock worth $8,532,265. 0.34% of the stock is owned by corporate insiders.

About Baker Hughes

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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