Corton Capital Inc. Takes $306,000 Position in Baker Hughes (NASDAQ:BKR)

Corton Capital Inc. bought a new position in shares of Baker Hughes (NASDAQ:BKR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,461 shares of the company's stock, valued at approximately $306,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $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 fourth quarter worth $30,000. Larson Financial Group LLC raised its holdings in shares of 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 purchased a new stake in shares of Baker Hughes during the fourth quarter worth $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes during the fourth quarter valued at about $47,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup decreased their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Piper Sandler dropped their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. TD Cowen reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna reduced their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

Baker Hughes Stock Up 2.4%

Shares of BKR traded up $0.86 during trading on Monday, reaching $37.35. The company's stock had a trading volume of 2,476,457 shares, compared to its average volume of 8,262,920. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $37.00 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a fifty day moving average of $39.72 and a two-hundred day moving average of $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. 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 fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.46%. Baker Hughes's dividend payout ratio (DPR) is currently 31.40%.

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.