State of Alaska Department of Revenue Raises Stake in Baker Hughes Company $BKR

Key Points

• The State of Alaska Department of Revenue increased its stake in Baker Hughes Company (NASDAQ:BKR) by 13.2% during Q2, resulting in holdings worth $5,031,000.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, beating estimates by $0.08, although revenue decreased by 3.2% year-over-year.
• The company recently announced a quarterly dividend of $0.23 per share, with a 1.8% dividend yield and a payout ratio of 30.07%.

State of Alaska Department of Revenue boosted its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 13.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,267 shares of the company's stock after buying an additional 15,285 shares during the period. State of Alaska Department of Revenue's holdings in Baker Hughes were worth $5,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BKR. Vanguard Group Inc. boosted its holdings in shares of Baker Hughes by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock valued at $5,367,096,000 after acquiring an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock valued at $515,367,000 after purchasing an additional 175,495 shares during the last quarter. Invesco Ltd. boosted its holdings in Baker Hughes by 2.7% in the first quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock valued at $474,226,000 after purchasing an additional 283,454 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Baker Hughes by 3.9% in the first quarter. Alliancebernstein L.P. now owns 10,068,044 shares of the company's stock valued at $442,491,000 after purchasing an additional 376,654 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Baker Hughes by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company's stock valued at $407,083,000 after purchasing an additional 707,471 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Performance

BKR opened at $50.52 on Monday. 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 market cap of $49.81 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.30 and a beta of 1.01. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.93. The firm's fifty day simple moving average is $45.13 and its two-hundred day simple moving average is $41.02.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $6.64 billion. During the same period last year, the firm posted $0.57 earnings per share. The company's 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. Equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

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

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value 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. This trade represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm'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 transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 553,068 shares of company stock worth $24,712,651 over the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BKR shares. UBS Group restated a "neutral" rating and issued a $46.00 target price (up previously from $43.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Susquehanna upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. The Goldman Sachs Group lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Melius started coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target on the stock. Finally, Jefferies Financial Group set a $58.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty-one investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.32.

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.

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