SteelPeak Wealth LLC Invests $2.74 Million in Baker Hughes Company $BKR

SteelPeak Wealth LLC bought a new position in Baker Hughes Company (NASDAQ:BKR) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 71,437 shares of the company’s stock, valued at approximately $2,739,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. Wayfinding Financial LLC purchased a new position in shares of Baker Hughes in the 1st quarter worth about $28,000. Golden State Wealth Management LLC boosted its holdings in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after buying an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Baker Hughes in the 1st quarter worth about $30,000. Grove Bank & Trust boosted its holdings in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company’s stock worth $33,000 after buying an additional 320 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Baker Hughes by 132.9% in the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after buying an additional 465 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 1.0%

Shares of Baker Hughes stock opened at $48.58 on Wednesday. Baker Hughes Company has a 12-month low of $33.60 and a 12-month high of $50.92. The company has a market cap of $47.89 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.23 and a beta of 0.99. 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’s 50-day moving average price is $45.80 and its 200-day moving average price is $41.28.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s dividend payout ratio is presently 30.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a report on Wednesday, July 30th. Capital One Financial upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Evercore ISI upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, UBS Group upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Monday. Twenty-two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.09.

Insider Transactions at Baker Hughes

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 553,068 shares of company stock valued at $24,712,651. 0.27% of the stock is currently owned by corporate insiders.

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.