Park Avenue Securities LLC Cuts Position in Baker Hughes Company $BKR

Key Points

• Park Avenue Securities LLC has reduced its position in Baker Hughes Company by 21.7%, now holding 22,052 shares worth approximately $845,000.
• Baker Hughes achieved a $0.63 earnings per share for the recent quarter, surpassing analyst expectations of $0.55, with a total revenue of $6.91 billion.
• The firm has declared a quarterly dividend of $0.23, yielding 1.8%, and has a payout ratio of 30.07%.

Park Avenue Securities LLC decreased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 21.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 22,052 shares of the company's stock after selling 6,097 shares during the period. Park Avenue Securities LLC's holdings in Baker Hughes were worth $845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new stake in shares of Baker Hughes during the first quarter valued at approximately $28,000. Golden State Wealth Management LLC increased its stake in shares of Baker Hughes by 678.7% in the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after buying an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Baker Hughes in the first quarter worth $30,000. Grove Bank & Trust boosted its holdings in Baker Hughes by 76.2% in the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares during the period. Finally, Spire Wealth Management boosted its holdings in Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock worth $36,000 after purchasing an additional 465 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $50.52 on Friday. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.93. The firm's 50-day simple moving average is $45.13 and its 200 day simple moving average is $41.02. 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 stock has a market cap of $49.81 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.30 and a beta of 1.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The company'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. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 annualized dividend and a yield of 1.8%. Baker Hughes's payout ratio is 30.07%.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on BKR. Morgan Stanley boosted their price target 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. BMO Capital Markets reissued an "outperform" rating and set a $53.00 price target (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Melius began coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. TD Cowen boosted their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group reduced their price target 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. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.32.

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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