Dodge & Cox Sells 1,003,035 Shares of Baker Hughes Company $BKR

Key Points

• Dodge & Cox has reduced its stake in Baker Hughes Company to 44,655,095 shares after selling 1,003,035 shares, which represents a 2.2% decrease in its holdings during the 1st quarter.
• Baker Hughes reported a quarterly earnings per share of $0.63, exceeding analysts' expectations of $0.55, even though revenue declined by 3.2% year-over-year.
• The company has declared a quarterly dividend of $0.23, amounting to an annualized yield of 2.1%, with a payout ratio of 30.07%.

Dodge & Cox decreased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,655,095 shares of the company's stock after selling 1,003,035 shares during the quarter. Dodge & Cox owned 4.51% of Baker Hughes worth $1,962,591,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Prosperity Consulting Group LLC lifted its position in Baker Hughes by 2.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock valued at $463,000 after acquiring an additional 278 shares in the last quarter. Greenleaf Trust lifted its position in Baker Hughes by 2.2% in the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after acquiring an additional 293 shares in the last quarter. TCTC Holdings LLC lifted its position in Baker Hughes by 7.7% in the 1st quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock valued at $185,000 after acquiring an additional 301 shares in the last quarter. Grove Bank & Trust lifted its position in Baker Hughes by 76.2% in 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, Ritholtz Wealth Management lifted its position in shares of Baker Hughes by 1.0% during the 1st quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock worth $1,526,000 after buying an additional 339 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Up 3.0%

Shares of BKR stock opened at $44.76 on Friday. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The firm has a market cap of $44.13 billion, a P/E ratio of 14.63, a PEG ratio of 1.98 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $41.35 and a 200-day moving average of $40.76.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the business earned $0.57 EPS. Baker Hughes's revenue was down 3.2% compared to the same quarter last year. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is currently 30.07%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 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. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have 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. Melius started coverage on shares of Baker Hughes in a research report on Wednesday. They set a "buy" rating and a $60.00 target price on the stock. The Goldman Sachs Group dropped their target price 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. Melius Research initiated coverage on shares of Baker Hughes in a research note on Wednesday. They set a "buy" rating and a $60.00 price target for the company. Finally, Evercore ISI raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Twenty 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.com, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $52.29.

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.

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