Hsbc Holdings PLC Lowers Holdings in Baker Hughes Company $BKR

Key Points

• Hsbc Holdings PLC reduced its stake in Baker Hughes by 12.6%, now holding 2,468,615 shares valued at approximately $108.3 million after selling 356,781 shares in the first quarter.
• Analysts have generally positive outlooks on Baker Hughes, with firms setting new price targets ranging from $53.00 to $60.00 per share, resulting in a consensus rating of "Moderate Buy."
• Baker Hughes recently declared a quarterly dividend of $0.23 per share, representing an annual yield of 2.1% with a payout ratio of 30.07%.

Hsbc Holdings PLC cut its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,468,615 shares of the company's stock after selling 356,781 shares during the period. Hsbc Holdings PLC owned 0.25% of Baker Hughes worth $108,332,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKR. Prosperity Consulting Group LLC lifted its holdings in Baker Hughes by 2.7% during the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock valued at $463,000 after purchasing an additional 278 shares in the last quarter. Greenleaf Trust lifted its holdings in Baker Hughes by 2.2% during the first quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after purchasing an additional 293 shares in the last quarter. TCTC Holdings LLC lifted its holdings in Baker Hughes by 7.7% during the first quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock valued at $185,000 after purchasing an additional 301 shares in the last quarter. Grove Bank & Trust lifted its holdings in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Baker Hughes by 1.0% during the first quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock valued at $1,526,000 after purchasing an additional 339 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.5%

Shares of BKR traded down $0.24 during trading on Monday, reaching $44.52. 2,009,767 shares of the company traded hands, compared to its average volume of 7,786,740. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The stock has a market cap of $43.89 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94. The stock has a 50-day simple moving average of $41.35 and a 200-day simple moving average of $40.66. 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 (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the business earned $0.57 earnings per share. The business's revenue for the quarter 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, analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 2.1%. Baker Hughes's dividend payout ratio (DPR) is currently 30.07%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $53.00 price objective (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. TD Cowen increased their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Evercore ISI increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Finally, Morgan Stanley increased their target price on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Twenty equities 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.29.

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.