Corebridge Financial Inc. Trims Stock Position in Baker Hughes Company $BKR

Corebridge Financial Inc. lowered its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 2.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 289,919 shares of the company’s stock after selling 8,793 shares during the period. Corebridge Financial Inc.’s holdings in Baker Hughes were worth $12,742,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Baker Hughes by 9,816.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 9,619 shares of the company’s stock valued at $423,000 after purchasing an additional 9,522 shares in the last quarter. Comerica Bank increased its stake in shares of Baker Hughes by 1.7% in the 1st quarter. Comerica Bank now owns 186,919 shares of the company’s stock valued at $8,215,000 after purchasing an additional 3,063 shares in the last quarter. ICONIQ Capital LLC purchased a new position in shares of Baker Hughes in the 1st quarter valued at about $234,000. Quantitative Investment Management LLC purchased a new position in shares of Baker Hughes in the 1st quarter valued at about $496,000. Finally, AlphaQuest LLC increased its stake in shares of Baker Hughes by 1,566.9% in the 1st quarter. AlphaQuest LLC now owns 28,988 shares of the company’s stock valued at $1,274,000 after purchasing an additional 27,249 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BKR shares. UBS Group restated a “neutral” rating and issued a $46.00 price target (up previously from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Jefferies Financial Group set a $58.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Evercore ISI lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and issued a $53.00 price target (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Seaport Res Ptn lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.29.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

NASDAQ:BKR opened at $44.45 on Wednesday. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The stock has a 50 day moving average of $41.56 and a two-hundred day moving average of $40.67. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market cap of $43.82 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 2.03 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the business earned $0.57 EPS. Baker Hughes’s quarterly revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s payout ratio is currently 30.07%.

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.