Assenagon Asset Management S.A. Buys 18,291 Shares of Baker Hughes Company $BKR

Key Points

• Assenagon Asset Management S.A. increased its stake in Baker Hughes by 20.5% during the second quarter, acquiring an additional 18,291 shares, bringing their total to 107,413 shares valued at approximately $4.12 million.
• Analysts have provided mixed ratings for Baker Hughes, with a consensus rating of "Moderate Buy" and an average target price of $52.32, reflecting varying degrees of optimism from firms such as UBS and Barclays.
• Baker Hughes recently announced a quarterly dividend of $0.23 per share, yielding 1.8% annually, evidencing the company's commitment to returning capital to shareholders.

Assenagon Asset Management S.A. grew its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 20.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,413 shares of the company's stock after acquiring an additional 18,291 shares during the period. Assenagon Asset Management S.A.'s holdings in Baker Hughes were worth $4,118,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Prosperity Consulting Group LLC increased its position in Baker Hughes by 2.7% in the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock worth $463,000 after buying an additional 278 shares during the last quarter. Greenleaf Trust grew its stake in shares of Baker Hughes by 2.2% during the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock worth $609,000 after acquiring an additional 293 shares during the period. Moody National Bank Trust Division increased its holdings in Baker Hughes by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company's stock worth $205,000 after acquiring an additional 296 shares during the last quarter. City Center Advisors LLC raised its stake in Baker Hughes by 3.6% in the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company's stock valued at $325,000 after acquiring an additional 298 shares during the period. Finally, TCTC Holdings LLC raised its stake in Baker Hughes by 7.7% in the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock valued at $185,000 after acquiring an additional 301 shares during the period. Institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

BKR has been the subject of a number of research reports. UBS Group reiterated a "neutral" rating and set a $46.00 target price (up previously from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Barclays raised their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Jefferies Financial Group set a $58.00 price objective on Baker Hughes in a research note on Wednesday, July 30th. TD Cowen increased their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average target price of $52.32.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $49.87 on Thursday. The firm has a market capitalization of $49.17 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $50.14. The business's 50-day moving average price is $44.69 and its 200-day moving average price is $40.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the company posted $0.57 EPS. Baker Hughes'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. Sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. Baker Hughes's dividend payout ratio (DPR) is currently 30.07%.

Insider Buying and Selling

In other Baker Hughes 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 completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, 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 document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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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