Vident Advisory LLC Trims Stock Position in Baker Hughes Company $BKR

Key Points

• Vident Advisory LLC sold 283,714 shares of Baker Hughes, reducing its holdings by 85.3% and leaving them with 49,006 shares valued at approximately $2.15 million.
• Analysts have varied price targets for Baker Hughes, with Jefferies Financial Group setting a target at $58, while a consensus rating indicates a "Moderate Buy" with an average price target of $52.29.
• The company recently declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 2.0%, with a payout ratio of 30.07%.

Vident Advisory LLC lessened its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 85.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,006 shares of the company's stock after selling 283,714 shares during the quarter. Vident Advisory LLC's holdings in Baker Hughes were worth $2,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Baker Hughes in the first quarter worth $404,385,000. Pacer Advisors Inc. grew its position in Baker Hughes by 2,585.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock worth $169,511,000 after purchasing an additional 3,713,301 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Baker Hughes during the 4th quarter worth about $128,542,000. 1832 Asset Management L.P. purchased a new position in shares of Baker Hughes during the 1st quarter valued at about $70,685,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Baker Hughes by 28.0% in the 1st quarter. Neuberger Berman Group LLC now owns 4,247,609 shares of the company's stock valued at $186,778,000 after buying an additional 928,191 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group reiterated a "neutral" rating and set a $46.00 price target (up from $43.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. 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 report on Thursday, July 24th. BMO Capital Markets reissued an "outperform" rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a research note on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $52.29.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.74 during mid-day trading on Friday, reaching $45.58. 4,978,368 shares of the stock traded hands, compared to its average volume of 4,952,892. 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 Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The stock has a market capitalization of $44.94 billion, a PE ratio of 14.90, a PEG ratio of 2.08 and a beta of 1.01. The business has a 50-day moving average of $42.69 and a 200 day moving average of $40.55.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued 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 payout ratio is currently 30.07%.

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.