Baker Hughes Company $BKR Stock Position Lifted by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Baker Hughes by 3.9%, acquiring an additional 14,621 shares, resulting in total holdings valued at approximately $14.8 million.
• Brokerage firms have set new price targets for Baker Hughes, with Jefferies Financial Group targeting $58 and Barclays raising their target to $53, indicating positive sentiment towards the stock.
• Baker Hughes recently paid a quarterly dividend of $0.23 per share, with an annualized dividend yield of 1.9% and a payout ratio of 30.07%.

Truist Financial Corp boosted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 386,710 shares of the company's stock after purchasing an additional 14,621 shares during the period. Truist Financial Corp's holdings in Baker Hughes were worth $14,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its position in Baker Hughes by 94,600.0% during the first quarter. NBC Securities Inc. now owns 7,576 shares of the company's stock valued at $332,000 after acquiring an additional 7,568 shares in the last quarter. Merit Financial Group LLC raised its position in Baker Hughes by 106.8% during the first quarter. Merit Financial Group LLC now owns 21,220 shares of the company's stock valued at $933,000 after acquiring an additional 10,961 shares in the last quarter. Vest Financial LLC bought a new position in Baker Hughes during the first quarter valued at approximately $19,588,000. Congress Asset Management Co. raised its position in Baker Hughes by 3.0% during the first quarter. Congress Asset Management Co. now owns 2,690,942 shares of the company's stock valued at $118,267,000 after acquiring an additional 78,672 shares in the last quarter. Finally, Wedmont Private Capital raised its position in Baker Hughes by 5.5% during the first quarter. Wedmont Private Capital now owns 19,894 shares of the company's stock valued at $874,000 after acquiring an additional 1,029 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BKR. Jefferies Financial Group set a $58.00 price objective 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 company an "overweight" rating in a research report on Thursday, July 24th. Evercore ISI raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Finally, Melius assumed coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target on the stock. Twenty-two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,068 shares of company stock worth $24,712,651. Insiders own 0.27% of the company's stock.

Baker Hughes Trading Up 0.2%

Shares of Baker Hughes stock opened at $48.50 on Friday. The company's fifty day simple moving average is $45.69 and its 200-day simple moving average is $41.22. The company has a market cap of $47.82 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.21 and a beta of 0.99. 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 $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion for 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%. Baker Hughes's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

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.

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