Allstate Corp Acquires 13,663 Shares of Baker Hughes Company $BKR

Key Points

• Allstate Corp increased its stake in Baker Hughes Company, acquiring an additional 13,663 shares, bringing its total holdings to 43,129 shares valued at approximately $1.9 million.
• Baker Hughes reported a net margin of 11.04% and earnings per share of $0.63 for its most recent quarter, beating analysts' expectations.
• The company recently announced a quarterly dividend of $0.23 per share, representing an annual yield of 2.1% with a payout ratio of 30.07%.

Allstate Corp grew its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 46.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,129 shares of the company's stock after acquiring an additional 13,663 shares during the quarter. Allstate Corp's holdings in Baker Hughes were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RPG Investment Advisory LLC raised its stake in Baker Hughes by 67.1% during the 1st quarter. RPG Investment Advisory LLC now owns 686,306 shares of the company's stock valued at $30,163,000 after purchasing an additional 275,686 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Baker Hughes in the 1st quarter worth $70,685,000. Compound Planning Inc. increased its holdings in shares of Baker Hughes by 19.9% during the 1st quarter. Compound Planning Inc. now owns 26,603 shares of the company's stock worth $1,169,000 after purchasing an additional 4,422 shares during the period. Norinchukin Bank The raised its position in shares of Baker Hughes by 42.2% during the first quarter. Norinchukin Bank The now owns 93,542 shares of the company's stock valued at $4,111,000 after buying an additional 27,743 shares during the last quarter. Finally, CW Advisors LLC lifted its stake in shares of Baker Hughes by 5.1% in the first quarter. CW Advisors LLC now owns 353,527 shares of the company's stock valued at $15,538,000 after buying an additional 17,016 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 3.0%

BKR opened at $44.76 on Friday. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.98 and a beta of 0.94. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The firm's 50-day simple moving average is $41.35 and its 200-day simple moving average is $40.76.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 2.1%. Baker Hughes's payout ratio is presently 30.07%.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

BKR has been the topic of a number of recent research reports. Susquehanna lifted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Stifel Nicolaus decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Melius started coverage on shares of Baker Hughes in a research note on Wednesday. They issued a "buy" rating and a $60.00 price objective for the company. Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Finally, Barclays upped their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average price target of $52.29.

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.

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