Canandaigua National Bank & Trust Co. Has $1.34 Million Holdings in Baker Hughes Company $BKR

Key Points

• Canandaigua National Bank & Trust Co. increased its holdings in Baker Hughes Company by 34.5%, owning a total of 35,064 shares worth $1.34 million after an additional purchase of 8,997 shares in the second quarter.
• Baker Hughes reported $0.63 EPS in its latest quarterly earnings, surpassing expectations of $0.55, despite a 3.2% decline in year-over-year revenue.
• Insider activity showed CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes, marking a 44.1% decrease in his position, raising concerns about confidence in the company's stock.

Canandaigua National Bank & Trust Co. increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 34.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,064 shares of the company's stock after acquiring an additional 8,997 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Baker Hughes were worth $1,344,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the 1st quarter valued at about $28,000. Golden State Wealth Management LLC boosted 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 valued at $30,000 after acquiring an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Baker Hughes during the 1st quarter valued at about $30,000. Grove Bank & Trust boosted 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 valued at $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted 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 valued at $36,000 after acquiring an additional 465 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent research reports. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Melius Research began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target on the stock. Capital One Financial boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday. Evercore ISI boosted their price target 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. Finally, The Goldman Sachs Group reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.32.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.06 during trading on Friday, reaching $47.34. The company had a trading volume of 15,817,367 shares, compared to its average volume of 7,592,805. Baker Hughes Company has a 52 week low of $33.60 and a 52 week high of $49.40. The stock has a market cap of $46.67 billion, a PE ratio of 15.47, a PEG ratio of 2.11 and a beta of 1.01. 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 business's 50 day moving average price is $43.98 and its 200-day moving average price is $40.75.

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 analysts' consensus estimates of $0.55 by $0.08. The company 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 firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, 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 filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company 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.