Baker Hughes (NASDAQ:BKR) Stock Position Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in Baker Hughes (NASDAQ:BKR) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 298,712 shares of the company’s stock after selling 12,934 shares during the quarter. Corebridge Financial Inc.’s holdings in Baker Hughes were worth $12,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after acquiring an additional 145,537 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at approximately $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after purchasing an additional 135,200 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

NASDAQ BKR opened at $45.18 on Wednesday. The company has a market cap of $44.73 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $44.97 and a 200 day simple moving average of $41.58.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.04%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is currently 30.87%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Atb Cap Markets lowered 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.