Corigliano Investment Advisers LLC Makes New $485,000 Investment in Baker Hughes (NASDAQ:BKR)

Corigliano Investment Advisers LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 11,821 shares of the company's stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC grew its holdings in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the 4th quarter valued at $30,000. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares in the last quarter. Kestra Investment Management LLC bought a new position in Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $47,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BKR shares. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. TD Cowen dropped their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Securities reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler dropped their price target on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.96 during midday trading on Monday, reaching $37.45. The company's stock had a trading volume of 2,636,921 shares, compared to its average volume of 7,019,897. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The company has a market cap of $37.10 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.00 and a beta of 0.96. 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 business's 50 day moving average price is $39.72 and its two-hundred day moving average price is $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. Baker Hughes's dividend payout ratio (DPR) is 31.40%.

Baker Hughes 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.