Alliancebernstein L.P. Buys 376,654 Shares of Baker Hughes Company $BKR

Key Points

• Alliancebernstein L.P. increased its position in Baker Hughes Company by 3.9%, owning approximately 10 million shares valued at $442.49 million.
• Baker Hughes reported a quarterly EPS of $0.63, exceeding analyst expectations of $0.55, and had a revenue of $6.91 billion for the quarter.
• The company announced a quarterly dividend of $0.23 per share, representing an annual yield of 2.0% and a payout ratio of 30.07%.

Alliancebernstein L.P. boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,068,044 shares of the company's stock after buying an additional 376,654 shares during the period. Alliancebernstein L.P. owned about 1.02% of Baker Hughes worth $442,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Baker Hughes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock worth $5,367,096,000 after acquiring an additional 924,501 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock worth $515,367,000 after purchasing an additional 175,495 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Baker Hughes by 2.7% during the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock worth $474,226,000 after purchasing an additional 283,454 shares during the period. Nuveen LLC purchased a new position in Baker Hughes during the first quarter valued at approximately $404,385,000. Finally, Deutsche Bank AG grew its position in Baker Hughes by 5.3% during the first quarter. Deutsche Bank AG now owns 8,181,944 shares of the company's stock valued at $359,596,000 after purchasing an additional 411,396 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.21 on Tuesday, reaching $45.85. The stock had a trading volume of 1,008,707 shares, compared to its average volume of 7,642,945. 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 business's 50-day moving average price is $42.84 and its two-hundred day moving average price is $40.55. The stock has a market cap of $45.20 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS 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 the consensus estimate of $6.64 billion. During the same quarter last year, the firm posted $0.57 EPS. The business's quarterly revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's payout ratio is currently 30.07%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research note on Wednesday, July 30th. Barclays lifted their price objective on Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group dropped their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Susquehanna lifted their price target on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Finally, TD Cowen boosted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" 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. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average target price 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.