Rafferty Asset Management LLC Cuts Stake in Baker Hughes Company $BKR

Key Points

• Rafferty Asset Management LLC reduced its stake in Baker Hughes Company (NASDAQ:BKR) by 12.1%, selling 66,083 shares, and holding 480,905 shares worth approximately $21.14 million.
• Baker Hughes' latest quarterly earnings surpassed expectations with a reported $0.63 EPS against a consensus estimate of $0.55, although revenue declined 3.2% year-over-year.
• The company recently declared a quarterly dividend of $0.23 per share, resulting in an annualized dividend yield of 2.1% with a payout ratio of 30.07%.

Rafferty Asset Management LLC decreased its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 12.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 480,905 shares of the company's stock after selling 66,083 shares during the quarter. Rafferty Asset Management LLC's holdings in Baker Hughes were worth $21,136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BKR. Envestnet Asset Management Inc. raised its holdings in shares of Baker Hughes by 2.8% during the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after purchasing an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Baker Hughes by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after purchasing an additional 8,351 shares during the period. Principal Financial Group Inc. grew its position in Baker Hughes by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after purchasing an additional 82,706 shares during the period. Stack Financial Management Inc purchased a new stake in Baker Hughes during the 1st quarter valued at $12,890,000. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Baker Hughes during the 1st quarter valued at $360,000. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.16 during trading on Monday, hitting $45.40. The company had a trading volume of 4,786,689 shares, compared to its average volume of 4,796,474. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. 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 firm has a market capitalization of $44.76 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The stock has a 50 day simple moving average of $41.94 and a 200 day simple moving average of $40.59.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the previous year, the company posted $0.57 EPS. The firm'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. As a group, analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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 presently 30.07%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Baker Hughes from $45.00 to $55.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. TD Cowen raised their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Susquehanna boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Melius Research started 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 on the stock. Finally, Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the transaction, the chief executive officer 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

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.