Fortis Capital Advisors LLC Takes $707,000 Position in Baker Hughes Company $BKR

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Baker Hughes Company, purchasing 16,081 shares valued at approximately $707,000.
• Institutional investors control 92.06% of Baker Hughes stock, with notable increases in holdings from several firms such as Vanguard Group and UBS in the first quarter.
• Baker Hughes reported earnings of $0.63 per share, exceeding expectations of $0.55, and announced a quarterly dividend of $0.23 per share.

Fortis Capital Advisors LLC purchased a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,081 shares of the company's stock, valued at approximately $707,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Baker Hughes by 0.8% in the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock valued at $5,367,096,000 after acquiring an additional 924,501 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock valued at $515,367,000 after acquiring an additional 175,495 shares in the last quarter. Invesco Ltd. raised its holdings in Baker Hughes by 2.7% in the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock valued at $474,226,000 after acquiring an additional 283,454 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Baker Hughes by 3.9% in the first quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company's stock valued at $442,491,000 after acquiring an additional 376,654 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Baker Hughes by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company's stock valued at $407,083,000 after acquiring an additional 707,471 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent analyst reports. Stifel Nicolaus cut their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Evercore ISI upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. 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 report on Wednesday, July 2nd. Melius Research began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. Finally, UBS Group reissued a "neutral" rating and set a $46.00 target price (up from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Baker Hughes Stock Up 3.2%

BKR stock opened at $46.92 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The firm's 50-day simple moving average is $43.12 and its 200 day simple moving average is $40.63. The stock has a market cap of $46.26 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01.

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, topping 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 for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter last year, the company earned $0.57 EPS. The company's revenue for the quarter 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. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 sale, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.

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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