Baker Hughes Company $BKR Holdings Cut by Palo Duro Investment Partners LP

Key Points

• Palo Duro Investment Partners LP reduced its holdings in Baker Hughes by 30.1%, leaving it with 126,992 shares valued at approximately $5.58 million, which positions the stock as 8th in its investment portfolio.
• CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes at an average price of $44.42, representing a 44.10% decrease in his ownership.
• Baker Hughes reported quarterly earnings of $0.63 EPS, surpassing analysts' estimates, along with a revenue of $6.91 billion, which was above expectations of $6.64 billion.

Palo Duro Investment Partners LP cut its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,992 shares of the company's stock after selling 54,759 shares during the quarter. Baker Hughes accounts for about 1.7% of Palo Duro Investment Partners LP's portfolio, making the stock its 8th biggest position. Palo Duro Investment Partners LP's holdings in Baker Hughes were worth $5,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Wayfinding Financial LLC purchased a new stake in Baker Hughes in the 1st quarter valued at $28,000. Golden State Wealth Management LLC grew its stake in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after acquiring an additional 604 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Baker Hughes in the first quarter valued at about $30,000. Grove Bank & Trust raised its holdings in shares of Baker Hughes by 76.2% in 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 during the last quarter. Finally, Spire Wealth Management lifted its position in shares of Baker Hughes by 132.9% during the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after purchasing an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the business'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 sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Melius assumed coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. Susquehanna upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. The Goldman Sachs Group dropped their price target on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. TD Cowen upped their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised their target price on 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 has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Performance

NASDAQ BKR traded down $0.19 during trading on Tuesday, hitting $45.45. 3,338,098 shares of the company's stock traded hands, compared to its average volume of 4,864,728. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a market capitalization of $44.81 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 2.08 and a beta of 1.01. Baker Hughes Company has a 12-month low of $32.25 and a 12-month high of $49.40. The business has a 50 day moving average of $42.98 and a 200-day moving average of $40.59.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion for 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 firm posted $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 presently 30.07%.

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.