Corigliano Investment Advisers LLC Takes Position in Baker Hughes (NASDAQ:BKR)

Corigliano Investment Advisers LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,821 shares of the company’s stock, valued at approximately $485,000.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at $640,000. Burney Co. increased its holdings in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the period. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares in the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes during the 4th quarter valued at about $1,180,000. Finally, Artemis Investment Management LLP increased its stake in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after acquiring an additional 239,773 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Baker Hughes stock opened at $36.39 on Wednesday. The business’s 50-day simple moving average is $40.16 and its 200 day simple moving average is $42.03. 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 stock has a market cap of $36.06 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, May 6th. Baker Hughes’s payout ratio is 31.40%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Royal Bank of Canada decreased their price target on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Evercore ISI dropped their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, TD Securities dropped 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 report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.11.

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.