Baker Hughes Company $BKR Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Baker Hughes by 3.9%, now owning 410,318 shares valued at approximately $15.73 million.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, exceeding analyst expectations, despite a 3.2% decline in revenue compared to the same period last year.
• The company declared a quarterly dividend of $0.23 per share, with an annual yield of 1.9%, reflecting a payout ratio of 30.07%.

KLP Kapitalforvaltning AS grew its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 410,318 shares of the company's stock after buying an additional 15,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Baker Hughes were worth $15,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after buying an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Baker Hughes by 51.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock valued at $1,075,000 after buying an additional 8,351 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Baker Hughes by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after buying an additional 82,706 shares during the last quarter. Stack Financial Management Inc acquired a new stake in shares of Baker Hughes in the first quarter valued at about $12,890,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Baker Hughes in the first quarter valued at about $360,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Down 1.5%

Shares of BKR stock opened at $47.85 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market cap of $47.17 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a 50-day moving average of $45.85 and a two-hundred day moving average of $41.32. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results 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. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. Baker Hughes's revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid 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 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares of the company's stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president directly owned 40,520 shares of the company's stock, valued at approximately $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,068 shares of company stock valued at $24,712,651 over the last 90 days. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BKR shares. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. UBS Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday. Capital One Financial raised their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. The Goldman Sachs Group cut their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, Evercore ISI raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average target price of $52.22.

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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