Adams Natural Resources Fund Inc. Has $13.79 Million Stock Position in Baker Hughes Company $BKR

Key Points

• Adams Natural Resources Fund cut its Baker Hughes stake by 40.1% in the first quarter, selling 151,000 shares and ending with 225,900 shares valued at about $13.79 million.
• Baker Hughes reported better-than-expected earnings of $0.58 per share, though revenue of $6.59 billion came in slightly below estimates. The company also raised investor appeal with a quarterly dividend of $0.23 per share, or $0.92 annually.
• Analyst sentiment remains positive overall, with 18 Buy ratings and 4 Hold ratings, and a consensus price target of $69.14. Recent headlines also highlight new offshore and geothermal project wins that could support future growth.

Adams Natural Resources Fund Inc. lowered its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 40.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 225,900 shares of the company's stock after selling 151,000 shares during the period. Baker Hughes accounts for approximately 1.6% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 17th largest position. Adams Natural Resources Fund Inc.'s holdings in Baker Hughes were worth $13,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Cardano Risk Management B.V. increased its holdings in shares of Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock worth $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $1,022,491,000. Capital International Investors acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $729,670,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company's stock worth $529,896,000 after buying an additional 4,278,573 shares during the period. Finally, Bessemer Group Inc. grew its stake in Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company's stock valued at $158,994,000 after buying an additional 3,464,637 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Down 0.7%

Shares of NASDAQ:BKR opened at $56.56 on Friday. The business's 50 day simple moving average is $63.56 and its 200 day simple moving average is $58.51. Baker Hughes Company has a 1 year low of $37.67 and a 1 year high of $70.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market capitalization of $56.11 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.04 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. On average, research analysts anticipate that Baker Hughes Company will post 2.28 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes's payout ratio is 29.39%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BKR shares. Argus increased their price target on shares of Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. BMO Capital Markets boosted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Barclays reaffirmed an "equal weight" rating and issued a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Royal Bank Of Canada increased their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Finally, Citigroup dropped their price target on Baker Hughes from $80.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $69.14.

Key Stories Impacting Baker Hughes

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes won a new award to supply subsea production systems for Azule Energy’s Greater PAJ development in Angola, adding to its backlog and reinforcing demand for its offshore oilfield equipment and services. Article: Baker Hughes to Deliver Subsea Production Systems to Support Azule Energy's Greater PAJ Development
• Positive Sentiment: The company also signed a deal with Mantle Reach Power to deliver up to 500 MW of geothermal capacity in North America, highlighting growth in Baker Hughes’ energy-transition business as electricity demand rises from AI and data centers. Article: Baker Hughes, Mantle Reach sign deal for 500 MW geothermal power in North America
• Positive Sentiment: Higher U.S. rig additions this week suggest improving activity in the North American energy market, which could support future demand for Baker Hughes’ drilling, completion, and equipment services. Article: US energy firms add most rigs in a week since June 2022, Baker Hughes says
• Neutral Sentiment: Baker Hughes announced it will report second-quarter results on July 26 and host a webcast on July 27, setting up the next major catalyst for the stock. Article: Baker Hughes Announces Dates for Second-Quarter Earnings Release and Webcast
• Neutral Sentiment: Commentary around Baker Hughes’ valuation and offshore-demand exposure may be helping investors frame the pullback, but it does not appear to be a direct operational catalyst. Article: Why Does Baker Hughes (NASDAQ) Benefit From Offshore Demand?
• Negative Sentiment: CEO Lorenzo Simonelli sold 181,411 shares under a pre-arranged trading plan, which can weigh on sentiment even if the sale was not unusual or discretionary. Article: Baker Hughes NASDAQ: BKR CEO Lorenzo Simonelli Sells 181,411 Shares

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at $1,027,327.34. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is owned by insiders.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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