Perbak Capital Partners LLP Buys Shares of 7,731 Baker Hughes Company $BKR

Key Points

• Perbak Capital Partners LLP acquired 7,731 shares of Baker Hughes Company, valued at approximately $340,000, indicating growing institutional interest in the company.
• Baker Hughes reported a quarterly earnings beat with earnings per share of $0.63, exceeding analysts' expectations, despite a 3.2% decrease in revenue compared to the previous year.
• CEO Lorenzo Simonelli sold a significant portion of his shares, reducing his ownership by 44.10% after selling 526,568 shares for over $23 million.

Perbak Capital Partners LLP acquired a new position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,731 shares of the company's stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Wayfinding Financial LLC purchased a new stake in Baker Hughes in the 1st quarter valued at $28,000. Golden State Wealth Management LLC raised its position in 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 last quarter. N.E.W. Advisory Services LLC purchased a new stake in Baker Hughes in the 1st quarter valued at $30,000. Grove Bank & Trust raised its position in Baker Hughes by 76.2% in the 1st 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 raised its position 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 purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BKR. The Goldman Sachs Group cut their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Morgan Stanley upped their price objective on shares of Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Stifel Nicolaus cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Barclays upped their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.29.

Insider Buying and Selling

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 of the company's stock, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.74 on Friday, reaching $45.58. 4,978,368 shares of the company were exchanged, compared to its average volume of 4,901,357. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a 1-year low of $32.25 and a 1-year high of $49.40. The firm has a market cap of $44.94 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. The company has a 50-day moving average of $42.69 and a 200-day moving average of $40.64.

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 for the quarter, topping analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio 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.