Sei Investments Co. Purchases New Stake in Baker Hughes Incorporated (NYSE:BHGE)

Sei Investments Co. acquired a new stake in Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 320,283 shares of the company’s stock, valued at approximately $11,729,000.

Several other large investors have also made changes to their positions in the company. First Bank & Trust bought a new position in shares of Baker Hughes during the third quarter valued at approximately $101,000. Trust Co. of Vermont bought a new position in shares of Baker Hughes during the third quarter valued at approximately $105,000. Carroll Financial Associates Inc. bought a new position in shares of Baker Hughes during the third quarter valued at approximately $136,000. M&R Capital Management Inc. bought a new position in Baker Hughes in the 2nd quarter worth approximately $141,000. Finally, Fairpointe Capital LLC bought a new position in Baker Hughes in the 2nd quarter worth approximately $229,000. 89.48% of the stock is owned by institutional investors and hedge funds.

Shares of Baker Hughes Incorporated (NYSE BHGE) traded up $1.01 on Monday, reaching $31.71. 7,928,433 shares of the company’s stock were exchanged, compared to its average volume of 3,137,344. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29. Baker Hughes Incorporated has a 1 year low of $29.62 and a 1 year high of $68.59.

Baker Hughes (NYSE:BHGE) last posted its quarterly earnings data on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative return on equity of 0.84% and a negative net margin of 6.66%. The firm’s revenue for the quarter was up 77.7% compared to the same quarter last year. sell-side analysts anticipate that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were issued a dividend of $0.18 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.72 annualized dividend and a dividend yield of 2.27%. Baker Hughes’s dividend payout ratio (DPR) is presently -111.34%.

A number of equities analysts recently issued reports on BHGE shares. Jefferies Group reissued a “hold” rating and issued a $40.00 price objective (down from $67.00) on shares of Baker Hughes in a report on Wednesday, August 9th. Royal Bank Of Canada set a $55.00 target price on Baker Hughes and gave the stock a “buy” rating in a research report on Saturday, August 12th. Argus assumed coverage on Baker Hughes in a research report on Monday, August 21st. They issued a “buy” rating and a $43.00 target price for the company. Cowen reiterated an “outperform” rating and set a $55.00 price objective on shares of Baker Hughes in a research report on Wednesday, August 23rd. Finally, Barclays started coverage on Baker Hughes in a research report on Thursday, August 31st. They set an “overweight” rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $40.74.

In other news, insider Matthias L. Heilmann acquired 1,500 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was bought at an average price of $30.04 per share, with a total value of $45,060.00. Following the completion of the acquisition, the insider now owns 3,500 shares in the company, valued at approximately $105,140. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

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Institutional Ownership by Quarter for Baker Hughes (NYSE:BHGE)

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