Thrivent Financial for Lutherans Has $2.01 Million Holdings in Baker Hughes (NASDAQ:BKR)

Posted by Defense World Staff on May 19th, 2023

Thrivent Financial for Lutherans lifted its stake in shares of Baker Hughes (NASDAQ:BKR – Get Rating) by 51.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,162 shares of the company’s stock after buying an additional 23,191 shares during the period. Thrivent Financial for Lutherans’ holdings in Baker Hughes were worth $2,012,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BKR. Red Tortoise LLC acquired a new stake in Baker Hughes in the fourth quarter valued at $32,000. Harvest Fund Management Co. Ltd acquired a new stake in Baker Hughes in the fourth quarter valued at $40,000. Ameliora Wealth Management Ltd. acquired a new stake in Baker Hughes in the third quarter valued at $47,000. Sandy Spring Bank bought a new stake in Baker Hughes during the third quarter valued at $48,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Baker Hughes during the fourth quarter valued at $48,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Kurt Camilleri sold 12,293 shares of Baker Hughes stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $28.53, for a total value of $350,719.29. Following the sale, the senior vice president now owns 1,000 shares of the company’s stock, valued at approximately $28,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BKR has been the topic of a number of research analyst reports. Benchmark initiated coverage on shares of Baker Hughes in a research report on Thursday, January 19th. They set a “buy” rating and a $36.00 price target on the stock. JPMorgan Chase & Co. raised shares of Baker Hughes from a “neutral” rating to an “overweight” rating and set a $32.00 price target on the stock in a research report on Wednesday, March 15th. UBS Group assumed coverage on shares of Baker Hughes in a research report on Wednesday, April 19th. They set a “neutral” rating and a $31.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Baker Hughes from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Finally, Evercore ISI increased their price objective on shares of Baker Hughes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $35.63.

Baker Hughes Price Performance

Baker Hughes stock opened at $28.18 on Friday. Baker Hughes has a 52 week low of $20.42 and a 52 week high of $38.65. The company’s 50 day moving average price is $28.37 and its two-hundred day moving average price is $29.51. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.40. The stock has a market cap of $28.53 billion, a P/E ratio of -256.18 and a beta of 1.48.

Baker Hughes (NASDAQ:BKR – Get Rating) last posted its earnings results on Wednesday, April 19th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Baker Hughes had a negative net margin of 0.44% and a positive return on equity of 7.13%. The firm had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes will post 1.52 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Tuesday, May 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.70%. Baker Hughes’s dividend payout ratio (DPR) is presently -690.91%.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.