Drake & Associates LLC Raises Stake in Baker Hughes Company $BKR

Key Points

• Drake & Associates LLC increased its stake in Baker Hughes Company by 78.7%, now owning 67,279 shares valued at approximately $2.58 million.
• CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes at an average price of $44.42, reducing his ownership by 44.1% to 667,593 shares.
• Baker Hughes has a current market cap of $48.39 billion and reported a quarterly revenue of $6.91 billion, exceeding analyst expectations.

Drake & Associates LLC lifted its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 78.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,279 shares of the company's stock after acquiring an additional 29,626 shares during the period. Drake & Associates LLC's holdings in Baker Hughes were worth $2,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock worth $27,314,000 after purchasing an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Baker Hughes by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after buying an additional 8,351 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Baker Hughes by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock valued at $54,462,000 after buying an additional 82,706 shares during the period. Stack Financial Management Inc acquired a new position in Baker Hughes in the first quarter valued at approximately $12,890,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Baker Hughes in the first quarter worth approximately $360,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company'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 sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares of the company's stock, valued at $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,068 shares of company stock valued at $24,712,651 in the last quarter. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BKR shares. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday, September 30th. Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Zephirin Group upped their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. The Goldman Sachs Group dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, 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 note on Wednesday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.09.

Baker Hughes Price Performance

Shares of BKR opened at $49.08 on Tuesday. The company has a market cap of $48.39 billion, a P/E ratio of 16.04, a PEG ratio of 2.21 and a beta of 0.99. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. 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 firm's 50 day moving average price is $45.74 and its 200 day moving average price is $41.23.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $6.64 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company's quarterly 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. On average, research analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes's dividend payout ratio is 30.07%.

Baker Hughes 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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