Oliver Luxxe Assets LLC Acquires 5,375 Shares of Baker Hughes Company $BKR

Key Points

• Oliver Luxxe Assets LLC increased its stake in Baker Hughes Company by 3.7% during the 2nd quarter, owning 149,047 shares valued at approximately $5.7 million.
• Baker Hughes CEO Lorenzo Simonelli sold 526,568 shares in July, reducing his stake by 44.10% and leaving him with 667,593 shares worth about $29.7 million.
• Wall Street analysts have a positive outlook on Baker Hughes, with 21 analysts rating it as Buy and recent target price increases ranging from $53.00 to $58.00 per share.

Oliver Luxxe Assets LLC grew its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 149,047 shares of the company's stock after purchasing an additional 5,375 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Baker Hughes were worth $5,714,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the 1st quarter valued at approximately $28,000. N.E.W. Advisory Services LLC acquired a new position in shares of Baker Hughes during the 1st quarter worth approximately $30,000. Golden State Wealth Management LLC raised its position in shares of Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares during the last quarter. Grove Bank & Trust raised its position in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on BKR shares. UBS Group reiterated a "neutral" rating and issued a $46.00 price target (up from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Barclays boosted their price target on Baker Hughes from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Melius Research initiated coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price for the company. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a research report on Wednesday, July 30th. Finally, Susquehanna upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.32.

Baker Hughes Stock Up 0.7%

BKR stock traded up $0.33 during midday trading on Monday, reaching $47.67. The company had a trading volume of 5,156,561 shares, compared to its average volume of 5,419,442. Baker Hughes Company has a 1 year low of $33.60 and a 1 year high of $49.40. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $47.00 billion, a P/E ratio of 15.58, a PEG ratio of 2.15 and a beta of 1.01. The company has a 50 day moving average of $44.27 and a two-hundred day moving average of $40.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly 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 company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the business posted $0.57 EPS. Baker Hughes'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, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared 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. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is currently 30.07%.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's 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 completion of the sale, the chief executive officer owned 667,593 shares in the company, 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 legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Company 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.