Westbourne Investments Inc. Takes $1.15 Million Position in Baker Hughes Company $BKR

Key Points

• Westbourne Investments Inc. acquired 26,095 shares of Baker Hughes Company (NASDAQ:BKR), valued at approximately $1,147,000, as per their latest SEC filing.
• In the recent quarter, institutional investors own 92.06% of Baker Hughes' stock, indicating strong institutional interest in the company.
• Baker Hughes reported a Q2 EPS of $0.63, exceeding analysts' expectations of $0.55, while its quarterly revenue decreased by 3.2% compared to the same period last year.

Westbourne Investments Inc. acquired a new stake in Baker Hughes Company (NASDAQ:BKR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,095 shares of the company's stock, valued at approximately $1,147,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Baker Hughes in the first quarter valued at $404,385,000. Pacer Advisors Inc. grew its stake in shares of Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after buying an additional 3,713,301 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Baker Hughes in the fourth quarter valued at $128,542,000. 1832 Asset Management L.P. bought a new position in shares of Baker Hughes in the first quarter valued at $70,685,000. Finally, AQR Capital Management LLC grew its stake in shares of Baker Hughes by 27.8% in the first quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company's stock valued at $234,958,000 after buying an additional 1,185,456 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

NASDAQ BKR traded down $0.48 during trading on Friday, hitting $46.49. 4,014,997 shares of the company's stock were exchanged, compared to its average volume of 4,764,843. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market cap of $45.83 billion, a PE ratio of 15.19, a P/E/G ratio of 2.14 and a beta of 1.01. Baker Hughes Company has a fifty-two week low of $33.13 and a fifty-two week high of $49.40. The stock's 50 day moving average price is $43.40 and its two-hundred day moving average price is $40.66.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping 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 business's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect that Baker Hughes Company will post 2.59 EPS 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 paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. Baker Hughes's dividend payout ratio is currently 30.07%.

Analyst Ratings Changes

Several research firms recently weighed in on BKR. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Stifel Nicolaus reduced 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. Morgan Stanley lifted 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. Evercore ISI lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Melius Research started coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective for the company. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.29.

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.