Corebridge Financial Inc. Has $12.74 Million Stake in Baker Hughes Company $BKR

Key Points

• Corebridge Financial Inc. reduced its stake in Baker Hughes Company by 2.9%, owning 289,919 shares valued at approximately $12.74 million after selling 8,793 shares in Q1.
• Several institutional investors significantly increased their holdings in Baker Hughes, with Kayne Anderson Rudnick Investment Management growing its stake by an extraordinary 9,816.5% in the same quarter.
• Baker Hughes announced a quarterly dividend of $0.23 per share, equating to an annualized dividend yield of 2.1%, with a payout ratio of 30.07%.

Corebridge Financial Inc. lessened its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 289,919 shares of the company's stock after selling 8,793 shares during the quarter. Corebridge Financial Inc.'s holdings in Baker Hughes were worth $12,742,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BKR. Wayfinding Financial LLC acquired a new stake in Baker Hughes during the 1st quarter worth $28,000. Golden State Wealth Management LLC raised its stake in Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Baker Hughes during the 1st quarter worth $30,000. Grove Bank & Trust raised its stake in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the period. Finally, Spire Wealth Management raised its stake in Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after buying an additional 465 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $46.00 target price (up from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $53.00 target price (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Stifel Nicolaus reduced their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Finally, Evercore ISI upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $52.29.

Baker Hughes Trading Down 0.4%

NASDAQ BKR traded down $0.16 on Monday, reaching $45.40. The company had a trading volume of 4,786,689 shares, compared to its average volume of 4,796,474. The firm has a market cap of $44.76 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.07 and a beta of 1.01. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The business has a 50 day moving average of $42.09 and a two-hundred day moving average of $40.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.0%. Baker Hughes's payout ratio is presently 30.07%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently 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.