Focus Partners Advisor Solutions LLC Purchases Shares of 16,325 Baker Hughes Company $BKR

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in Baker Hughes, purchasing 16,325 shares valued at approximately $717,000 in the 1st quarter of 2023.
• A significant portion of Baker Hughes' stock, 92.06%, is owned by institutional investors and hedge funds, indicating strong market confidence in the company.
• Baker Hughes reported a quarterly earnings beat with $0.63 earnings per share, surpassing the consensus estimate of $0.55, while generating revenue of $6.91 billion during the quarter.

Focus Partners Advisor Solutions LLC acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,325 shares of the company's stock, valued at approximately $717,000.

Several other hedge funds also recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of Baker Hughes by 11.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,515 shares of the company's stock valued at $1,129,000 after purchasing an additional 2,919 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Baker Hughes in the 4th quarter valued at $364,000. Benjamin Edwards Inc. grew its stake in shares of Baker Hughes by 471.0% during the 4th quarter. Benjamin Edwards Inc. now owns 44,753 shares of the company's stock worth $1,836,000 after purchasing an additional 36,916 shares during the period. Captrust Financial Advisors grew its stake in shares of Baker Hughes by 19.2% during the 4th quarter. Captrust Financial Advisors now owns 41,154 shares of the company's stock worth $1,688,000 after purchasing an additional 6,629 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Baker Hughes by 225.9% during the 4th quarter. Cetera Investment Advisers now owns 83,039 shares of the company's stock worth $3,406,000 after purchasing an additional 57,556 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BKR shares. Morgan Stanley raised their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. The Goldman Sachs Group decreased 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. Barclays lifted 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. Finally, Melius initiated coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. Twenty 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Baker Hughes Stock Performance

BKR traded up $0.76 on Wednesday, hitting $46.21. The company had a trading volume of 948,263 shares, compared to its average volume of 7,617,223. The company's fifty day moving average price is $42.98 and its 200 day moving average price is $40.59. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The stock has a market cap of $45.56 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 2.08 and a beta of 1.01.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio is presently 30.07%.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company's stock.

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.