Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $3.82 Million Stake in Baker Hughes Company $BKR

Key Points

• Empirical Wealth Management has increased its stake in Baker Hughes Company to $3.82 million after purchasing an additional 6,380 shares during the second quarter, raising its total to 99,592 shares.
• Baker Hughes reported an earnings per share (EPS) of $0.63 for the last quarter, exceeding analyst estimates of $0.55, despite a year-over-year revenue decline of 3.2% to $6.91 billion.
• The company recently announced a quarterly dividend of $0.23, providing an annualized yield of 1.9%, and has a payout ratio of 30.07%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,592 shares of the company's stock after acquiring an additional 6,380 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Baker Hughes were worth $3,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Wealth Enhancement Advisory Services LLC lifted its holdings in Baker Hughes by 36.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 54,799 shares of the company's stock worth $2,248,000 after buying an additional 14,749 shares during the period. NBC Securities Inc. lifted its holdings in Baker Hughes by 94,600.0% during the 1st quarter. NBC Securities Inc. now owns 7,576 shares of the company's stock worth $332,000 after buying an additional 7,568 shares during the period. Merit Financial Group LLC lifted its holdings in Baker Hughes by 106.8% during the 1st quarter. Merit Financial Group LLC now owns 21,220 shares of the company's stock worth $933,000 after buying an additional 10,961 shares during the period. RFG Advisory LLC acquired a new position in Baker Hughes during the 1st quarter worth about $918,000. Finally, Chesley Taft & Associates LLC lifted its holdings in Baker Hughes by 32.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 10,317 shares of the company's stock worth $453,000 after buying an additional 2,502 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $48.50 on Friday. Baker Hughes Company has a one year low of $33.60 and a one year high of $50.92. The firm has a market capitalization of $47.82 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.20 and a beta of 0.99. The business has a 50-day simple moving average of $45.69 and a 200 day simple moving average of $41.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.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 company posted $0.57 EPS. The firm'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. On average, research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Melius Research assumed coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. Melius started coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Baker Hughes in a research note on Saturday, September 27th. Twenty-two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Insider Activity at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company's stock, valued at $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 553,068 shares of company stock valued at $24,712,651 in the last three months. Corporate insiders own 0.27% of the company's stock.

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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