Corebridge Financial Inc. Sells 12,934 Shares of Baker Hughes (NASDAQ:BKR)

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

Several other institutional investors have also made changes to their positions in the business. JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the period. True Wealth Design LLC boosted its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on BKR. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Barclays upped their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $45.18 on Wednesday. The firm has a fifty day moving average of $44.97 and a two-hundred day moving average of $41.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market capitalization of $44.73 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Baker Hughes Company 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.