Baker Hughes Company $BKR Stock Holdings Increased by Covea Finance

Key Points

• Covea Finance increased its stake in Baker Hughes Company by 47.6%, now holding 194,800 shares valued at approximately $7.47 million as reported in a recent SEC filing.
• Baker Hughes' earnings for the last quarter exceeded expectations, reporting an EPS of $0.63 against a consensus estimate of $0.55, with revenue of $6.91 billion.
• The company announced a quarterly dividend of $0.23 per share, translating to an annualized yield of 1.9%, reflecting a dividend payout ratio of 30.07%.

Covea Finance raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 47.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,800 shares of the company's stock after acquiring an additional 62,800 shares during the period. Covea Finance's holdings in Baker Hughes were worth $7,469,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Baker Hughes by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock valued at $5,367,096,000 after acquiring an additional 924,501 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Baker Hughes by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock valued at $515,367,000 after purchasing an additional 175,495 shares during the period. Invesco Ltd. increased its position in shares of Baker Hughes by 2.7% during the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock valued at $474,226,000 after purchasing an additional 283,454 shares during the period. Alliancebernstein L.P. increased its position in shares of Baker Hughes by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company's stock valued at $442,491,000 after purchasing an additional 376,654 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Baker Hughes by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company's stock valued at $407,083,000 after purchasing an additional 707,471 shares during the period. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 0.7%

NASDAQ BKR opened at $47.67 on Tuesday. 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 1-year low of $33.60 and a 1-year high of $49.40. The company has a 50 day moving average of $44.27 and a 200-day moving average of $40.79. The company has a market cap of $47.00 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.15 and a beta of 1.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 earnings per share. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.9%. Baker Hughes's dividend payout ratio is 30.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BKR. Melius began coverage on Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target on the stock. Seaport Res Ptn cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Capital One Financial lifted their price target on Baker Hughes from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Melius Research started coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Evercore ISI upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus price target of $52.32.

Insider Activity

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

About Baker Hughes

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.