Hotchkis & Wiley Capital Management LLC Lowers Stock Position in Baker Hughes Company $BKR

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its stake in Baker Hughes Company ($BKR) by 44.4%, selling over 4 million shares and now holding around 5.13 million shares valued at approximately $225 million.
• In the latest quarterly earnings report, Baker Hughes exceeded earnings expectations with an EPS of $0.63, contributing to a revenue of $6.91 billion, despite a 3.2% year-over-year decline.
• The company recently announced a $0.23 per share quarterly dividend, translating to an annualized yield of 2.1%, and notable insider sales were reported, including a significant share sale by CEO Lorenzo Simonelli.

Hotchkis & Wiley Capital Management LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 44.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,130,472 shares of the company's stock after selling 4,096,795 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.52% of Baker Hughes worth $225,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. AlphaQuest LLC grew its stake in shares of Baker Hughes by 1,566.9% in the 1st quarter. AlphaQuest LLC now owns 28,988 shares of the company's stock worth $1,274,000 after buying an additional 27,249 shares in the last quarter. Kestra Advisory Services LLC grew its stake in shares of Baker Hughes by 68.1% in the 1st quarter. Kestra Advisory Services LLC now owns 64,345 shares of the company's stock worth $2,828,000 after buying an additional 26,064 shares in the last quarter. Allstate Corp grew its stake in shares of Baker Hughes by 46.4% in the 1st quarter. Allstate Corp now owns 43,129 shares of the company's stock worth $1,896,000 after buying an additional 13,663 shares in the last quarter. RPG Investment Advisory LLC grew its stake in shares of Baker Hughes by 67.1% in the 1st quarter. RPG Investment Advisory LLC now owns 686,306 shares of the company's stock worth $30,163,000 after buying an additional 275,686 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of Baker Hughes in the 1st quarter worth $70,685,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of recent analyst reports. Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. 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 note on Wednesday, July 2nd. Susquehanna lifted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Up 0.7%

Shares of NASDAQ:BKR traded up $0.33 during trading hours on Wednesday, hitting $44.78. The company's stock had a trading volume of 3,572,337 shares, compared to its average volume of 7,763,568. Baker Hughes Company has a 52 week low of $32.25 and a 52 week 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 company has a market capitalization of $44.15 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.03 and a beta of 0.94. The firm's fifty day moving average price is $41.56 and its 200 day moving average price is $40.67.

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, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes's dividend payout ratio is 30.07%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction 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 of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.