Patton Fund Management Inc. Invests $232,000 in Baker Hughes Company $BKR

Key Points

• Patton Fund Management Inc. made a $232,000 investment in Baker Hughes Company, acquiring 6,043 shares in the second quarter.
• Analysts have a consensus rating of "Moderate Buy" for Baker Hughes, with a target price of $52.32 following various upgrades and downgrades from different financial institutions.
• Baker Hughes recently announced a quarterly dividend of $0.23 per share, equivalent to an annual yield of 1.8%.

Patton Fund Management Inc. acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,043 shares of the company's stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in Baker Hughes during the first quarter worth $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 valued at $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $30,000. Grove Bank & Trust lifted its position in shares of Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the period. Finally, Spire Wealth Management boosted its stake in Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. UBS Group reissued a "neutral" rating and set a $46.00 price objective (up from $43.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Seaport Res Ptn downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Melius Research 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 objective on the stock. Susquehanna lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, TD Cowen increased their price target on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.32.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company's stock, valued at approximately $588,600. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lorenzo Simonelli sold 526,568 shares of the 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Trading Up 0.8%

Shares of BKR opened at $50.52 on Monday. The stock's fifty day simple moving average is $45.13 and its 200-day simple moving average is $41.02. The firm has a market capitalization of $49.81 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.93. 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 data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the previous year, the business posted $0.57 EPS. The company's quarterly revenue was down 3.2% compared to the same quarter last year. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued 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 yield of 1.8%. 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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