Equitable Trust Co. Purchases Shares of 161,530 Baker Hughes Company $BKR

Equitable Trust Co. purchased a new position in Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 161,530 shares of the company’s stock, valued at approximately $9,861,000.

Other large investors have also modified their holdings of the company. Woodline Partners LP increased its stake in Baker Hughes by 40.8% during the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after purchasing an additional 986 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Baker Hughes in the second quarter worth about $2,301,000. NewEdge Advisors LLC lifted its holdings in shares of Baker Hughes by 4.0% during the second quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock worth $1,779,000 after purchasing an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC purchased a new stake in Baker Hughes in the second quarter valued at approximately $1,014,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BKR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Friday, April 24th. Argus lifted their price objective on shares of Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Capital One Financial upped their price objective on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Zacks Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Royal Bank Of Canada raised their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.14.

Insider Activity at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the transaction, the chief executive officer owned 703,444 shares in the company, valued at $41,102,232.92. The trade was a 20.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 367,910 shares of company stock valued at $22,420,797 over the last quarter. 0.19% of the stock is owned by company insiders.

Key Headlines Impacting Baker Hughes

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Baker Hughes announced substantial equipment and services awards for Cheniere’s Sabine Pass LNG expansion, including liquefaction equipment, compressors, gas turbines, and upgrade work. The deal reinforces Baker Hughes’ LNG exposure and adds visibility to future revenue. Baker Hughes Secures Substantial Equipment and Services Awards for Cheniere’s Sabine Pass LNG Facility
• Positive Sentiment: Baker Hughes also expanded its power-growth strategy with a multi-year agreement with Kodiak Gas Services to support U.S. data center demand, including a pathway to roughly 1.8 GW of power over time. Investors may view this as another sign the company is benefiting from the AI-driven electricity buildout. Kodiak Gas Services, Baker Hughes Announce Multi-Year Gas Turbine Order Agreement to Support U.S. Data Center Growth
• Positive Sentiment: Wolfe Research initiated coverage with an “outperform” rating and a $70 price target, while other firms including Susquehanna and TD Cowen also highlighted upside through target and rating updates. That steady analyst support can help reinforce bullish sentiment. Baker Hughes coverage and price target update
• Positive Sentiment: Reports that Baker Hughes is set to win conditional E.U. approval for its Chart Industries deal could remove an overhang tied to the transaction and improve the market’s confidence in the acquisition path. Baker Hughes set to win conditional E.U. approval for Chart Industries deal
• Neutral Sentiment: Several articles framed Baker Hughes as positioned to benefit from the broader energy transition and shifting power demand, but these were more thematic than company-specific catalysts. Can Baker Hughes Benefit From the Energy Shift?
• Neutral Sentiment: A separate note said Baker Hughes had a strong prior-session move and that earnings estimate revisions could limit near-term upside. This is more of a valuation/expectations check than a direct negative catalyst. Baker Hughes (BKR) Soars 5.7%: Is Further Upside Left in the Stock?
• Negative Sentiment: One headline said Baker Hughes is closing a facility and laying off employees, which could raise concerns about restructuring costs or demand conditions, though details were limited. HBJ: Baker Hughes closing facility, laying off employees

Baker Hughes Stock Down 0.7%

BKR opened at $57.20 on Friday. The company has a market cap of $56.75 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. Baker Hughes Company has a twelve month low of $38.37 and a twelve month high of $70.41. The company has a 50-day moving average price of $62.00 and a 200 day moving average price of $59.14. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $0.51 EPS. Baker Hughes’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Baker Hughes Company will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. Baker Hughes’s payout ratio is currently 29.39%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.