Guinness Asset Management LTD Decreases Stock Holdings in Baker Hughes Company $BKR

Key Points

• Guinness Asset Management LTD has decreased its holdings in Baker Hughes Company by 18.8%, selling 38,393 shares during the first quarter, bringing their total to 166,035 shares worth approximately $7.26 million.
• Numerous hedge funds are increasing their positions in Baker Hughes, with Vanguard Group Inc. raising their stake by 0.8% and now owning over 122 million shares.
• Baker Hughes recently reported $0.63 earnings per share, exceeding analysts' expectations, despite a 3.2% decrease in revenue year-over-year with earnings guidance for the current fiscal year projected to be $2.59 per share.

Guinness Asset Management LTD trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 166,035 shares of the company's stock after selling 38,393 shares during the quarter. Guinness Asset Management LTD's holdings in Baker Hughes were worth $7,259,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BKR. Vanguard Group Inc. raised its position in shares of Baker Hughes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock valued at $5,367,096,000 after purchasing an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Baker Hughes by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock valued at $515,367,000 after purchasing an additional 175,495 shares during the last quarter. Invesco Ltd. raised its position in shares of Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock valued at $474,226,000 after purchasing an additional 283,454 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Baker Hughes by 3.9% in the 1st quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company's stock valued at $442,491,000 after purchasing an additional 376,654 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Baker Hughes by 8.3% in the 1st 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 purchasing an additional 707,471 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.1%

Shares of NASDAQ:BKR opened at $46.97 on Friday. Baker Hughes Company has a 1 year low of $32.86 and a 1 year high of $49.40. The firm has a market capitalization of $46.31 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. 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 business's 50 day moving average price is $43.26 and its 200-day moving average price is $40.65.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (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 firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the firm posted $0.57 EPS. The business's revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts forecast 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 given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Barclays raised their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Melius Research began coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. 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. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research note on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.29.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction that occurred 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 in the company, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

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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