Parallax Volatility Advisers L.P. Cuts Stake in Baker Hughes Company $BKR

Key Points

• Parallax Volatility Advisers L.P. reduced its stake in Baker Hughes Company by 65.4%, selling 61,428 shares and now holding 32,562 shares worth approximately $1.43 million.
• CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes stock for $23.39 million, representing a 44.1% decrease in his ownership.
• Analysts have reacted positively, with firms like BMO Capital Markets and Morgan Stanley increasing their target prices for Baker Hughes stock, indicating a consensus rating of "Moderate Buy."

Parallax Volatility Advisers L.P. reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 65.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,562 shares of the company's stock after selling 61,428 shares during the quarter. Parallax Volatility Advisers L.P.'s holdings in Baker Hughes were worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in BKR. Mercer Global Advisors Inc. ADV grew its holdings in Baker Hughes by 11.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,515 shares of the company's stock valued at $1,129,000 after buying an additional 2,919 shares in the last quarter. Captrust Financial Advisors grew its holdings in Baker Hughes by 19.2% during the 4th quarter. Captrust Financial Advisors now owns 41,154 shares of the company's stock valued at $1,688,000 after buying an additional 6,629 shares in the last quarter. Cetera Investment Advisers grew its holdings in Baker Hughes by 225.9% during the 4th quarter. Cetera Investment Advisers now owns 83,039 shares of the company's stock valued at $3,406,000 after buying an additional 57,556 shares in the last quarter. Ethic Inc. grew its holdings in shares of Baker Hughes by 36.4% in the fourth quarter. Ethic Inc. now owns 151,425 shares of the company's stock valued at $6,211,000 after purchasing an additional 40,418 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Baker Hughes by 40.4% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,531,007 shares of the company's stock valued at $62,802,000 after purchasing an additional 440,683 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes 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 completion of the sale, the chief executive officer directly owned 667,593 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BKR shares. BMO Capital Markets reissued an "outperform" rating and issued a $53.00 target price (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Morgan Stanley raised their target price on shares of Baker Hughes from $45.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group cut their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Susquehanna raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Finally, Evercore ISI raised their target price 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. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.29.

Baker Hughes Stock Down 1.6%

NASDAQ BKR opened at $45.58 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $42.69 and a two-hundred day moving average of $40.60. The firm has a market capitalization of $44.94 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.08 and a beta of 1.01. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. The company 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%. Baker Hughes's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current 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. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is 30.07%.

Baker Hughes Company 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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