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Baker Hughes acquires CDC for $540M, boosting its IET segment with high-margin, safety-critical technologies.
HOUSTON and LONDON, June 16, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday it has agreed to acquire Continental Disc Corporation (CDC), a leading provider of safety-critical pressure management solutions, from investment partnerships managed by Tinicum Incorporated in an all-cash transaction for approximately $540 million.
Lorenzo Simonelli, CEO of Baker Hughes discusses the recent Israel-Iran and its' impact on volatility in oil prices and stresses not to focus on short-term volatility in oil prices. He also touches on the firm's business strategy and sustainability efforts.
All the facilities of energy services firm Baker Hughes are operating normally in the Middle East, chief executive Lorenzo Simonelli told Reuters on the sidelines of the Energy Asia conference on Monday.
Two CEOs told CNBC that they are monitoring the situation, but would not predict the price of oil. There will be more significant price effects, they said, if Iran closes the critical Strait of Hormuz.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021, energy services firm Baker Hughes said in its closely followed report on Friday.
HOUSTON and LONDON, June 13, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) will announce the results of the second quarter ending June 30, 2025, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, July 22, 2025. A webcast to discuss the results will be held Wednesday, July 23, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
BKR to deliver integrated plug and abandonment services for EQNR under a multi-year framework agreement signed between the two companies in March 2025.
I am upgrading Baker Hughes to a buy, as its LNG-driven IET segment offers predictable growth and strong backlog, offsetting oilfield cyclicality. Recent divestitures at high multiples bolster cash reserves, enabling share buybacks and supporting shareholder returns alongside a 2.4% dividend yield. Despite oil price volatility, I expect $60 to act as a floor, and BKR's balance sheet remains robust with net leverage under 1x.
BKR is set to sell its PSI product line to Crane for $1.15B, sharpening its focus on core IET strengths and portfolio optimization.