Black Cypress Capital Management LLC Sells 45,092 Shares of Baker Hughes Company $BKR

Key Points

• Black Cypress Capital Management LLC reduced its stake in Baker Hughes Company by 43.5%, now holding 58,532 shares valued at approximately $2.57 million.
• The company recently announced a quarterly dividend of $0.23 per share, translating to an annualized dividend yield of 2.1%.
• Research analysts have shown mixed sentiments, with BMO Capital Markets upgrading the price target to $53.00, while other firms remain cautious, indicating a consensus rating of "Moderate Buy."

Black Cypress Capital Management LLC lowered its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 43.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,532 shares of the company's stock after selling 45,092 shares during the period. Baker Hughes accounts for 2.3% of Black Cypress Capital Management LLC's portfolio, making the stock its 13th biggest holding. Black Cypress Capital Management LLC's holdings in Baker Hughes were worth $2,572,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Horizon Investments LLC grew its position in shares of Baker Hughes by 4.8% during the first quarter. Horizon Investments LLC now owns 14,262 shares of the company's stock worth $627,000 after acquiring an additional 653 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Baker Hughes by 2.4% during the first quarter. Kovitz Investment Group Partners LLC now owns 137,724 shares of the company's stock worth $6,053,000 after acquiring an additional 3,278 shares during the last quarter. Cookson Peirce & Co. Inc. grew its position in shares of Baker Hughes by 89.3% during the first quarter. Cookson Peirce & Co. Inc. now owns 58,117 shares of the company's stock worth $2,554,000 after acquiring an additional 27,414 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of Baker Hughes by 111.3% during the first quarter. Vestmark Advisory Solutions Inc. now owns 128,822 shares of the company's stock worth $5,662,000 after acquiring an additional 67,856 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Baker Hughes by 28.0% during the first quarter. Neuberger Berman Group LLC now owns 4,247,609 shares of the company's stock worth $186,778,000 after acquiring an additional 928,191 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BKR. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. TD Securities reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Barclays upped their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

NASDAQ BKR traded down $0.1140 on Wednesday, reaching $42.8360. The company's stock had a trading volume of 752,018 shares, compared to its average volume of 7,843,514. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. 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 stock has a market cap of $42.23 billion, a PE ratio of 14.01, a PEG ratio of 1.95 and a beta of 0.94. The firm's 50 day moving average is $41.07 and its two-hundred day moving average is $40.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted 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 firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

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.