Baker Hughes (NASDAQ:BKR) Bolsa

BAKER HUGHES CO

Baker Hughes

Following a 2022 reorganization, Baker Hughes operates across two segments: oilfield services and equipment, and industrial and energy technology. The firm's oilfield services and equipment segment, or OFSE, is one of the Big Three oilfield service players, along with SLB and Halliburton, and mostly supplies to hydrocarbon developers and producers, including national oil companies, major integrated firms, and independents. Markets outside of North America buy roughly three quarters of the firm's OFSE. Baker Hughes' industrial and energy technology segment manufactures and sells turbines, compressors, pumps, valves, and related testing and monitoring services across various energy and industrial applications.

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<ul>
<li>Argent LNG, Baker Hughes, Hunt Energy form coalition for Syria energy masterplan</li>
<li>Masterplan includes oil, gas exploration and power generation</li>
<li>Syria's energy infrastructure needs billions in investment</li>
<li>Focus on areas west of Euphrates under Syrian government control</li>
</ul>
DAMASCUS, July 18 (Reuters) - U.S.-based firms Baker Hughes <a href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=BKR.O">BKR.O</a>, Hunt Energy and Argent LNG will develop a masterplan for Syria's oil, gas and power sector, <a href="https://www.reuters.com/company/argent-lng-llc/">Argent LNG</a> CEO Jonathan Bass said on Friday, in a partnership aimed at rebuilding energy infrastructure shattered by 14 years of civil war.
The move marks a swift turnaround as U.S. companies enter a country previously under one of the world's tightest sanctions regimes that U.S. President Donald Trump <a href="reuters://REALTIME/verb=NewsStory/ric=nS0N3S901W">lifted</a> at the end of June.
The companies plan to help explore and extract oil and gas and produce power to help get the economy running as the government seeks to put Syria back on the map. The plan comes after a dash by other companies, many from Gulf Arab states, to sign deals to bolster Syria's <a href="reuters://REALTIME/verb=NewsStory/ric=nS8N3RO01P">power generation</a> and <a href="reuters://REALTIME/verb=NewsStory/ric=nS8N3RM0BE">ports infrastructure</a>.
Details of the plan have not been previously reported.
"We are initiating the development of a comprehensive masterplan for energy and power generation in Syria, based on a preliminary assessment of opportunities for near-term improvements in generation capacity and service delivery," Bass told Reuters via phone.
"Our efforts aim to support the revitalization of the energy sector in coordination with relevant stakeholders," he added.
"This includes potential activities across the value chain—from exploration and production to electricity generation, including combined-cycle power plants," he said, declining to elaborate further.
Argent LNG, which is developing a liquefied natural gas export facility in Louisiana, <a href="reuters://REALTIME/verb=NewsStory/ric=nL2N3OK0R7">in January signed</a> a non-binding agreement to supply Bangladesh up to 5 million metric tons of the fuel annually, the first major U.S. LNG supply deal since Trump began his second term.
Reuters received no immediate response to emailed questions to global energy services provider Baker Hughes and Texas-based electric utility Hunt Energy.
The plan is to begin with areas west of the Euphrates River, under control of the Syrian government.
Syria's east, where much of its oil is produced, remains controlled by the Syrian Democratic Forces, a U.S.-backed and Kurdish-led armed group that Washington has urged to integrate with the new authorities in Damascus following the ouster of former Syrian strongman Bashar al-Assad.
After 14 years of war, Syria's electricity sector is severely damaged, generating only 1.6 gigawatts of electricity, down from 9.5 GW before 2011. Billions of dollars of investment are needed to fix the sector, so the cash-strapped state is looking at private investment or donors to foot the bill.
In May, Syria signed a <a href="reuters://REALTIME/verb=NewsStory/ric=nS8N3RO01P">memorandum of understanding</a> with Qatar's UCC Holding to develop $7 billion worth of power generation projects, including four combined-cycle gas turbine power plants and a 1,000-MW solar power plant in southern Syria.
&nbsp;
'GROWING INTEREST'
In a post on LinkedIn on Thursday, Syrian Finance Minister Yisr Barnieh said the three U.S.-based companies were forming a coalition to invest in Syria and develop the country's energy sector.
"This visit signals a growing interest among American companies and investors in engaging with Syria," he said.
Bass, Hunt Energy CEO Hunter L. Hunt, and a senior executive at Baker Hughes arrived in Syria on a private jet on Wednesday morning and were meeting with Barnieh when Israel conducted a series of <a href="reuters://REALTIME/verb=NewsStory/ric=nS8N3SS01K">airstrikes on Damascus</a> that shook the city, Bass said.
"It was big," said Bass, who has been working on the energy project since visiting Damascus and <a href="reuters://REALTIME/verb=NewsStory/ric=nL8N3RH1RB">meeting with</a> Syrian President Ahmed al-Sharaa in April.
He was part of both state-led and informal efforts to lobby Trump to meet with Sharaa.
The landmark meeting took place in mid-May with a big push from the leaders of Turkey and Saudi Arabia, and Trump announced the end of Syria sanctions. As they are slowly phased out, <a href="reuters://REALTIME/verb=NewsStory/ric=nL8N3RM23S">investor interest</a> in Syria has grown.
A week of violence in the <a href="reuters://REALTIME/verb=NewsStory/ric=nS8N3SR05S">southern province of Sweida</a>, however, has darkened the mood in the country and left at least 321 people dead, according to the Syrian Network for Human Rights, a human rights group.
"To work in Syria, there are potholes, there are ditches, it has craters," said Bass.
"If you don't have the team that's willing to accept craters, don't come."
&nbsp;

News

General

'US firms to develop Syria energy masterplan after Trump lifts sanctions'- Reuters Exclusive

Stifel analyst Stephen Gengaro maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Buy and lowers the price target from $50 to $49.

Price Target

Analyst Ratings

Stifel Maintains Buy on Baker Hughes, Lowers Price Target to $49

In the current session, the stock is trading at $39.71, after a 0.97% increase. Over the past month, Baker Hughes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) stock increased by 2.80%, and in the past year, by 15.10%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2025/1752181217_0.png" alt="Past Year Chart" />

<h3>How Does Baker Hughes P/E Compare to Other Companies?</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Baker Hughes has a lower P/E than the aggregate P/E of 21.43 of the Energy Equipment &amp; Services industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1752181217_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

P/E Ratio Insights for Baker Hughes

The ongoing transformation in the artificial intelligence landscape is creating new opportunities for investors, particularly in the small-cap sector. C3.ai&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) recent recognition by WestPark Capital as a &#8220;Buy&#8221; signal a shift in market sentiment, highlighting the company&#8217;s potential to emerge as a leader <a href="https://www.benzinga.com/topic/artificial-intelligence">in enterprise AI.</a>
Analyst Curtis Shauger initiates coverage <a href="https://www.benzinga.com/quote/AI/analyst-ratings" target="_blank" rel="noreferrer noopener">with a price </a><a href="https://www.benzinga.com/quote/AI/analyst-ratings" target="_blank" rel="noopener">target of $40</a> and notes that C3.ai presents a rare small-cap opportunity in the AI sector.
He sees potential for significant stock upside as the company approaches profitability within the next 12–18 months.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/tech/25/07/46317032/tesla-copper-prices-god-candle-evs" rel="noreferrer noopener">Tesla Is Getting Burnt By Copper&#8217;s God Candle</a>
Shauger believes that as an early leader in enterprise AI, C3.ai has absorbed the high costs of educating the market, similar to what companies like Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) faced in SaaS's early days.
While the company's five-year CAGR of 18% trails Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) 31%, Shauger highlights that C3.ai is among the few enterprise software firms to show accelerating growth over the last 7–8 quarters.
If the company sustains this positive trend, investor sentiment could shift sharply in its favor.
The analyst also notes that the company's growing partner network is helping it broaden its reach and improve efficiency.
Since its IPO, C3.ai has added major players like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to its indirect sales ecosystem, reducing its earlier reliance on oil and gas clients, particularly its partnership with Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).
Shauger believes these alliances can play a crucial role in helping the company scale and move closer to profitability over the next 12 to 18 months.
He further suggests that a move toward profitability could drive a strong valuation boost.
The analyst's $40 price forecast assumes an 8x multiple on calendar year 2026 revenue of $598 million, which could be achievable if the company turns profitable.
C3.ai currently trades below its historical median valuation, yet shows encouraging momentum driven by a growing number of high-profile partnerships.
Price Action: AI shares are trading higher by 3.3% to $27.26 at last check on Wednesday.
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Photo: Shutterstock

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C3.ai Could Be The Next Big AI Winner — Thanks To Big Tech Ties, Profit Push

Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) has outperformed the market over the past 5 years by 7.12% on an annualized basis producing an average annual return of 21.64%. Currently, Baker Hughes has a market capitalization of $39.90 billion. 
Buying $1000 In BKR: If an investor had bought $1000 of BKR stock 5 years ago, it would be worth $2,665.12 today based on a price of $40.27 for BKR at the time of writing.
<h3>Baker Hughes's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1752007511_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 5 Years Ago, You Would Have This Much Today

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EQNR

FANG

SHEL

Shares of energy stocks are trading lower as oil prices drop following a softer-than-expected Iranian attack on a US base in Qatar.

<h2 class="wp-block-heading">New On The Block</h2>
<a href="https://www.benzinga.com/sports">Spanish La Liga club</a> Getafe is considering a sale, <a href="https://www.telegraph.co.uk/football/2025/06/17/liverpool-owners-buying-la-liga-getafe/">per</a> The Telegraph. 
On the buyside is Fenway Sports Group (FSG), the Boston-based firm <a href="https://www.anfieldwatch.co.uk/liverpool-fc/news/liverpool-fsg-worst-owners-major-league-baseball-boston-red-sox/">led</a> by billionaire John W. Henry. FSG already owns Liverpool FC, the Boston Red Sox and Pittsburgh Penguins. 
Ángel Torres, Getafe's current owner, intends to leave the club once he renovates Estadio Coliseum. The club expects the project to wrap by December 2027. That timing could suit FSG, which is <a href="https://www.nytimes.com/athletic/6244860/2025/04/01/malaga-fsg-deal-liverpool/">rumored</a> to be &#8220;tight with the purse strings.&#8221;
In recent years, FSG has sought outside investors like RedBird Capital to help finance its expansion efforts. 
This interest also connects to a major restructuring of FSG's football division in 2024. That shuffle paved the way for Michael Edwards' <a href="https://www.espn.com/soccer/story/_/id/39714152/liverpool-owners-fsg-confirm-michael-edwards-return-set-up">return</a> as football CEO.
Also for sale:
<ul class="wp-block-list">
<li>Sabadell (Madrid: SAB) is exploring a sale of British bank TSB, according <a href="https://www.ft.com/content/2e188c26-3900-43c2-a3f9-ef943740e881">to</a> the Financial Times.</li>
</ul>
See Also: <a href="https://www.benzinga.com/m-a/25/06/45908298/papa-johns-takeover-rumors-swirl-but-doubts-are-creeping-in">Papa John&#8217;s Takeover Rumors Swirl, But Doubts Are Creeping In</a>
<h2 class="wp-block-heading">Updates From The Block</h2>
Dan Ives, global head of technology research at Wedbush Securities, said Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) &#8220;might be forced&#8221; to pursue a merger or acquisition with an AI platform like Perplexity or one of several others—<a href="https://www.benzinga.com/news/14/05/4542648/the-reasons-behind-apples-reported-acquisition-of-beats">similar to its 2014 acquisition</a> of Beats—to meet <a href="https://www.benzinga.com/markets/equities/25/06/45899111/apple-may-end-up-acquiring-perplexity-like-it-did-with-beats-in-2014-says-dan-ives-consumers-need-reasons-to-upgrade-as-iphone-maker-falls-way-behind-in-ai-race">growing consumer demands</a>.
The Abu Dhabi National Oil Company (ADNOC), a major Abu Dhabi sovereign wealth fund, and private equity giant Carlyle have made a $18.7 billion offer to acquire Santos, one of Australia's largest oil and gas companies. XRG, ADNOC's new $80 billion platform, is spearheading the bid. If successful, this would mark one of Australia's largest-ever takeovers. Whether it works out remains to be seen. The deal will likely face scrutiny from Australian regulators wary of foreign ownership.
Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) announced that it will sell its Precision Sensors &amp; Instrumentation (PSI) unit to Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>) for approximately $1.15 billion in cash. The move is part of Baker Hughes&#8217; broader strategy to streamline its portfolio and reallocate capital <a href="https://www.benzinga.com/m-a/25/06/45840278/baker-hughes-sells-sensors-unit-to-crane-company-for-1-15-billion">toward higher-return opportunities</a>.
Brookfield Infrastructure Partners has struck a deal to acquire Hotwire Communications, a Florida-based internet service provider. The transaction is expected to value the company at around $7 billion, including debt. The Wall Street Journal first <a href="https://www.wsj.com/business/telecom/brookfield-strikes-deal-to-buy-internet-provider-hotwire-82b64059?mod=deals_news_article_pos5">broke</a> the news. Hotwire, which runs fiber networks across nine U.S. states, was previously backed by Blackstone, which invested $1 billion in 2021. The deal underscores Brookfield's growing push into next-gen broadband. Demand for fiber internet is surging, sparking consolidation. Recall Verizon's $9.6 billion <a href="https://www.benzinga.com/markets/equities/24/09/40727235/verizon-to-acquire-frontier-in-20b-deal-reaffirms-fy24-outlook">Frontier fiber buy</a> and AT&amp;T's <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45553442/lumen-technologies-stock-surges-on-fiber-business-sale-to-att">$5.75 billion Lumen deal</a>.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Home decor retailer At Home is <a href="https://www.businesswire.com/news/home/20250615147348/en/At-Home-Group-Enters-Agreement-to-Facilitate-Ownership-Transition-and-Position-Business-for-Long-Term-Success">seeking</a> Chapter 11 protection in a bid to restructure $2 billion in debt and score $200 million in fresh capital. The Texas-based chain—once known as Garden Ridge Pottery—is shuttering 26 stores as it hands over the keys (and control) to lenders holding 95% of its debt. CEO Brad Weston blamed &#8220;a rapidly evolving trade environment&#8221;—aka tariffs and turbulence—while analysts say the real pain lies in sluggish home sales and waning consumer demand. <a href="https://www.benzinga.com/markets/25/06/45814493/its-a-buyers-market-redfin-reports-there-are-34-more-sellers-in-the-market-than-buyers" target="_blank" rel="noreferrer noopener">Homes are sitting on the market</a> for weeks or even months while <a href="https://www.benzinga.com/news/25/03/44218740/kevin-oleary-says-prices-arent-going-down-eggs-energy-and-housing-remain-sky-high-but-he-thinks-its-part-of-a-bigger-strategy" target="_blank" rel="noreferrer noopener">prices remain sky-high</a> and <a href="https://www.benzinga.com/money/mortgage-rates" target="_blank" rel="noreferrer noopener">mortgage rates</a> are near 6.8%.
Wolfspeed is reportedly preparing to file for a prepackaged Chapter 11 bankruptcy. According to Bloomberg, the filing would hand control of the struggling chipmaker to its creditors, including Apollo Global Management. The deal aims to slash billions in debt and is expected to be announced soon, pending creditor approval.
<a href="https://www.benzinga.com/news/topics/25/06/45932531/deal-dispatch-chicken-solar-disney-hulu-big-tech-breakup">For last week&#8217;s edition of the Deal Dispatch, click here</a>.
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Image created using a photo from Shutterstock.

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Baker Hughes's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>) short percent of float has risen 11.97% since its last report. The company recently reported that it has 30.10 million shares sold short, which is 3.93% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.47 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Baker Hughes Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1750172438_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Baker Hughes has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Baker Hughes's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Baker Hughes's peer group average for short interest as a percentage of float is 9.21%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Is Baker Hughes Gaining or Losing Market Support?

Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is making a strategic move to <a href="https://www.benzinga.com/pressreleases/25/06/g45947292/baker-hughes-to-acquire-continental-disc-corporation-a-differentiated-leader-in-pressure-managemen">strengthen its industrial portfolio</a> with the planned acquisition of Continental Disc Corporation (CDC) in an all-cash deal valued at approximately $540 million.
Announced Monday, the transaction will add CDC&#8217;s pressure relief and vacuum safety products to Baker Hughes&#8217; existing industrial offerings. 
CDC, headquartered in Liberty, Missouri, specializes in rupture discs, vacuum valves, flame arrestors, and other safety-critical equipment for a wide range of industries, including pharmaceuticals, aerospace, and oil and gas. 
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Lorenzo Simonelli, chairman and CEO of Baker Hughes, called the deal a key step in the company&#8217;s portfolio optimization strategy. &#8220;CDC&#8217;s strong aftermarket profile and product lifecycle alignment makes it a strategic fit,&#8221; he said.
The transaction is expected to immediately boost Baker Hughes&#8217; earnings per share, cash flow, and margins within its Industrial &amp; Energy Technology (IET) segment.
CDC&#8217;s product suite has a large global footprint and is known for frequent replacement cycles, leading to consistent recurring revenue. 
In 2024, roughly 80% of the company&#8217;s $109 million in pro forma revenue came from repeat business, reinforcing its high-margin profile and reliability-driven demand model.
This acquisition follows Baker Hughes&#8217; earlier announcements involving the purchase of Surface Pressure Control assets and <a href="https://www.benzinga.com/m-a/25/06/45840278/baker-hughes-sells-sensors-unit-to-crane-company-for-1-15-billion" target="_blank" rel="noreferrer noopener">divestiture</a> of its Precision Sensors &amp; Instrumentation division. 
These moves underscore the company&#8217;s effort to focus on scalable, high-return businesses aligned with its long-term growth goals.
The acquisition will be financed using Baker Hughes&#8217; available cash and is expected to close in the fourth quarter of 2025. As of March 31, 2025, the company held cash and cash equivalents of <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44938082/baker-hughes-company-announces-first-quarter-2025-results" rel="noreferrer noopener">$3.277 billion</a>.
Related ETFs: Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>), Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)
Price Action: BKR shares are trading higher by 0.29% to $39.16 at last check Monday.
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Photo by hkhtt hj via Shutterstock

Baker Hughes To Acquire Continental Disc Corporation For $540 Million

<ul>
<li>CDC's rupture disc and pressure/vacuum relief valve portfolio is a leader in addressing pressure/vacuum safety and pressure management for critical applications across a broad range of attractive end markets</li>
<li>Transaction adds complementary portfolio of products to Baker Hughes existing valves product line</li>
<li>Acquisition expected to be immediately accretive to earnings and cash flow per share and IET's segment margins &nbsp;</li>
</ul>
HOUSTON and LONDON, June 16, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), 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.
Headquartered in Liberty, Missouri, CDC designs and manufactures rupture discs, rupture disc holders, burst disc indicators, pressure- and vacuum-relief valves, flame and detonation arrestors, and related safety products. These products, which are highly complementary to Baker Hughes Industrial &amp; Energy Technology's (IET) existing Control Valve and High-Pressure Relief Valve offerings, are deployed across a broad range of industries, including applications across pharmaceutical, chemical, food and beverage, oil and gas, and aerospace markets.
With a large global installed base and essential products that require regular replacement to maintain safety and operational reliability, CDC generates significant recurring revenue. In 2024, approximately 80% of CDC's $109 million in proforma revenue was recurring – a key driver of its strong returns and highly accretive margin profile.

Baker Hughes To Acquire Continental Disc Corp. For $540M In All-Cash Deal

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Shares of energy stocks are trading higher following Israel's strikes on Iran, which have raised oil prices amid potential disruptions in production.

Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) announced Wednesday that it <a href="https://www.benzinga.com/pressreleases/25/06/g45879330/baker-hughes-receives-award-from-equinor-to-industrialize-offshore-plug-abandonment-operations-in-" target="_blank" rel="noreferrer noopener">has been selected</a> by Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) to lead a plug and abandonment (P&amp;A) project in the Oseberg East field on Norway&#8217;s continental shelf. 
The initiative marks the first assignment under a multi-year framework agreement between the two energy companies for integrated well services.
As part of the agreement, Baker Hughes will utilize its Mature Assets Solutions portfolio to manage the planning and execution of plug and abandonment operations. 
Also Read: <a href="https://www.benzinga.com/m-a/25/06/45724879/cactus-takes-majority-stake-in-baker-hughes-spc-for-global-reach" target="_blank" rel="noreferrer noopener">Cactus Takes Majority Stake In Baker Hughes&#8217; SPC For Global Reach</a>
The integrated approach aims to reduce costs and enhance efficiency through advanced technology and centralized expertise.
Amerino Gatti, executive vice president of Oilfield Services &amp; Equipment at Baker Hughes, said the company is fully prepared to manage each stage of the P&amp;A process. &#8220;Through collaboration, technology, and integration, we&#8217;ll help Equinor achieve its well abandonment goals in a cost-effective and optimized way,&#8221; he said.
Preparations are already underway, with execution set to begin in 2026. Baker Hughes will also open a P&amp;A Center of Excellence in Bergen and Stavanger to coordinate operations and streamline technical oversight across the North Sea.
The company&#8217;s toolkit for well abandonment includes proprietary technologies such as PRIME Powered Mechanical Applications, CICM (Casing Integrity &amp; Cement Mapping), the MASTODON&#x2122; casing retrieval system, and the Xtreme SJI mechanical slotting tool &#8211; designed to enable safe, efficient well closures while limiting environmental impact.
Separately, Baker Hughes recently <a target="_blank" href="https://www.benzinga.com/m-a/25/06/45840278/baker-hughes-sells-sensors-unit-to-crane-company-for-1-15-billion" rel="noreferrer noopener">sold</a> its sensors unit to Crane Company for $1.15 billion, part of a broader strategy to sharpen its focus on core operations.
Energy ETFs with exposure to Baker Hughes and Equinor include the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the iShares Global Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXC#NYSE">IXC</a>), which may reflect developments in the global energy infrastructure landscape.
Price Action: BKR shares were trading lower by 0.08% to 39.05, and EQNR was up 1.33% to $25.56 at last check Wednesday.
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Photo by hkhtt hj via Shutterstock

iShares Trust S&P Global Energy Sector Index Fund

Equinor Taps Baker Hughes For Multi-Year Plug And Abandonment Deal In North Sea

<ul>
<li>Baker Hughes awarded P&amp;A agreement based on Mature Assets Solutions portfolio</li>
<li>Agreement will enable Equinor to drive efficiencies, industrialize P&amp;A operations through end-to-end integration</li>
<li>Award marks first project as part of multi-year frame agreement for integrated well services</li>
</ul>
HOUSTON and LONDON, June 11, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), an energy technology company, will provide Equinor plug and abandonment (P&amp;A) services in the Oseberg East field on Norway's continental shelf. Baker Hughes' Mature Assets Solutions team will lead the integrated P&amp;A campaign planning phase, as well as delivering integrated P&amp;A services in execution across several wells in the North Sea.

Baker Hughes To Provide Equinor P&A Services In Oseberg East Field On Norway's Continental Shelf

In the current session, the stock is trading at $38.25, after a 0.92% increase. Over the past month, Baker Hughes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) stock increased by 0.10%, and in the past year, by 18.55%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2025/1749488467_0.png" alt="Past Year Chart" />

<h3>Evaluating Baker Hughes P/E in Comparison to Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 21.15 in the Energy Equipment &amp; Services industry, Baker Hughes Inc. has a lower P/E ratio of 12.94. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1749488468_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) announced on Monday that it will sell its Precision Sensors &amp; Instrumentation (PSI) unit to Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>) for approximately <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/g45834576/baker-hughes-announces-sale-of-precision-sensors-instrumentation-product-line-to-crane-company" rel="noreferrer noopener">$1.15 billion in cash</a>. The move is part of Baker Hughes&#8217; broader strategy to streamline its portfolio and reallocate capital toward higher-return opportunities.
PSI, a division within Baker Hughes&#8217; Industrial &amp; Energy Technology segment, includes well-known brands such as Druck, Panametrics, and Reuter-Stokes. These brands specialize in sensor-based technologies for measuring pressure, flow, gas, moisture, and radiation.
The unit employs roughly 1,600 people worldwide, and the sale includes all associated assets, including intellectual property and infrastructure.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/25/06/45724879/cactus-takes-majority-stake-in-baker-hughes-spc-for-global-reach" rel="noreferrer noopener">Cactus Takes Majority Stake In Baker Hughes&#8217; SPC For Global Reach</a>
Lorenzo Simonelli, Chairman and CEO of Baker Hughes, said the sale supports the company&#8217;s renewed focus on core areas like rotating equipment, asset performance management, flow control, and decarbonization. He noted that the divestiture enhances long-term value creation and bolsters the company&#8217;s balance sheet.
Crane Company pegged the net value of the deal at $1.06 billion after expected tax benefits, citing PSI&#8217;s projected 2025 <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/b45834589/crane-company-to-acquire-precision-sensors-instrumentation-from-baker-hughes-company" rel="noreferrer noopener">sales of $390 million</a> and adjusted EBITDA of $60 million.
Max H. Mitchell, Chairman and CEO of Crane, described PSI as &#8220;a perfect fit&#8221; for its Aerospace &amp; Electronics and Process Flow Technologies divisions.
Mitchell highlighted how the Druck brand will strengthen Crane&#8217;s aerospace pressure sensing capabilities while Reuter-Stokes will significantly expand its nuclear detection portfolio. Panametrics, he added, brings advanced flow and moisture measurement solutions that serve a wide range of industrial applications.
Crane expects the acquisition to deliver a 10% return on invested capital within five years, with sales growth projected between 4% and 6%, alongside strong operating leverage. The acquisition will be financed through a mix of cash and new debt, with closing anticipated by late 2025 or early 2026.
Investors may also track relevant ETFs such as the Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) and the iShares U.S. Industrials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYJ#NYSE">IYJ</a>).
Price Action: At the last check on Monday, CR shares were trading higher by 1.03% to $179.51, and BKR stock was up 0.11% at $37.94.
Read Next:
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Photo by hkhtt hj via Shutterstock

iShares Trust Dow Jones US Industrial Sector Index Fund

Baker Hughes Sells Sensors Unit To Crane Company For $1.15 Billion

<ul>
<li>Product line includes Druck, Panametrics and Reuter-Stokes brands</li>
<li>Transaction aligns with Baker Hughes' ongoing portfolio optimization</li>
</ul>
HOUSTON and LONDON, June 09, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), an energy technology company, announced Monday an agreement to sell its Precision Sensors &amp; Instrumentation (PSI) product line to Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>, "Crane"))), a diversified manufacturer of engineered industrial products, for a total cash consideration of approximately $1.15 billion.
PSI, part of Baker Hughes' Industrial &amp; Energy Technology (IET) segment, includes the Druck, Panametrics and Reuter-Stokes brands. These brands manufacture instrumentation and sensor-based technologies to detect and analyze pressure, flow, gas, moisture and radiation across various industries. PSI employs approximately 1,600 people across several&nbsp;manufacturing and service facilities globally. The sale encompasses all assets of the business, including intellectual property, footprint and resources.

Baker Hughes Agrees To Sell Precision Sensors & Instrumentation Product Line To Crane For Total Cash Consideration Of About $1.15B

<h3 class="wp-block-heading">New On The Block</h3>
Byron Allen's Allen Media Group has hired Moelis &amp; Company to explore a sale of its TV stations across 21 markets. The company spent over $1 billion acquiring Big Four network affiliates (ABC, NBC, CBS, FOX) over the past six years. 
It is now looking to cash out and reduce debt. Deadline <a href="https://deadline.com/2025/06/allen-media-group-hires-investment-bank-to-sell-tv-stations-1236420381/">reported</a> that the TV stations have received multiple offers. 
Also for sale: 
<ul class="wp-block-list">
<li>Jefferies is shopping around PatientPoint, a health marketing and ad agency, according <a href="https://www.axios.com/pro/health-tech-deals/2025/06/04/patientpoint-jefferies-sale">to</a> Axios. L Catterton, Littlejohn &amp; Co. and Transformation Capital are on the sell side. </li>
<li>Just three years ago, private equity firm One Equity Partners <a href="https://www.oneequity.com/news/one-equity-partners-completes-investment-in-infucare-rx-a-leading-home-infusion-therapy-provider/">completed</a> a strategic investment in infusion provider InfuCare. Today? It&#8217;s looking to get rid of it. According to Axios, JPMorgan is <a href="https://www.axios.com/pro/health-tech-deals/2025/06/03/infucare-one-equity-jpmorgan-sale">looking</a> for a buyer. </li>
<li>Swiss biotech MoonLake Immunotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLTX#NASDAQ">MLTX</a>) received a <a href="https://www.benzinga.com/news/health-care/25/06/45743008/mercks-dealmaking-intensifies-with-moonlake-bid-as-keytruda-patent-cliff-nears-report">bid exceeding $3 billion</a> from Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>). MoonLake turned down the initial offer, but talks are reportedly revived. The potential purchase signals renewed dealmaking activity as investor pressure has mounted on Merck to secure new assets, especially as its blockbuster <a href="https://www.benzinga.com/general/health-care" target="_blank" rel="noreferrer noopener">cancer drug Keytruda</a> faces patent expiration as early as 2028.</li>
</ul>
<h3 class="wp-block-heading">Updates From The Block</h3>
<ul class="wp-block-list">
<li>Post Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POST#NYSE">POST</a>) is forking over $880 million—including assumed debt—to buy 8th Avenue Food &amp; Provisions. That means brands like Ronzoni pasta will go back into Post&#8217;s pantry. <a href="https://www.wsj.com/articles/post-holdings-to-buy-ronzoni-pasta-owner-8th-avenue-food-cf8f454c?mod=deals_news_article_pos2">Per</a> The Wall Street Journal, the private-label brands originally got spun off into 8th Avenue in 2018 with help from private equity firm THL. Post plans to wipe out 8th Avenue's net debt and pick up the tab for all equity interests, including $111 million in finance leases. All in, the transaction is expected to cook up $15 million in annual synergies by the end of fiscal 2026. If Post closes by July 1, it expects 2026 to be more profitable (on an adjusted basis) than initially expected.</li>
</ul>
<ul class="wp-block-list">
<li>Rosebank Industries (LON: ROSE) is once again in talks to buy Electrical Components International (ECI), a wire harnesses manufacturer, for about $1.9 billion, Reuters reported. Rosebank was in talks to buy ECI in February but dropped the plans in March.</li>
</ul>
<ul class="wp-block-list">
<li>Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) agreed to acquire Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>). The acquisition includes a rare immunology disease medicine, Ayvakit/Ayvakyt (avapritinib), approved in the U.S. and the EU. The acquisition will also include elenestinib, a next-generation medicine for SM, and BLU-808, a highly selective and potent oral wild-type KIT inhibitor with the potential for immunology diseases. Sanofi will pay&nbsp;$129&nbsp;per share in cash, representing an equity value <a href="https://www.benzinga.com/news/health-care/25/06/45719179/sanofi-expands-rare-immunology-portfolio-with-blueprint-buyout">of roughly&nbsp;$9.1 billion</a>.</li>
</ul>
<ul class="wp-block-list">
<li>Suzano S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUZ#NYSE">SUZ</a>) is acquiring a 51% stake in a new $3.4 billion tissue products joint venture with Kimberly-Clark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NASDAQ">KMB</a>), <a href="https://www.benzinga.com/m-a/25/06/45797473/tissue-titans-unite-suzano-kimberly-clark-form-3-4-billion-global-jv">paying $1.734 billion in cash</a>. Kimberly-Clark will retain a 49% stake. The Netherlands-based venture will produce and distribute toilet paper and facial tissues in 70 countries, with 22 factories across 14 countries, employing about 9,000 people. The facilities have an annual capacity of 1 million tonnes and generated $3.3 billion in net sales in 2024.</li>
</ul>
<h3 class="wp-block-heading">Off The Block</h3>
<ul class="wp-block-list">
<li>Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45740112/robinhood-completes-200-million-bitstamp-deal-gains-access-to-500k-crypto-users-and-95-million-revenue-stream">completed its $200 million acquisition</a> of Bitstamp, a crypto exchange that had raised around $40 million from firms like Pantera Capital and Ripple.</li>
</ul>
<ul class="wp-block-list">
<li>Cactus Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) <a href="https://www.benzinga.com/m-a/25/06/45724879/cactus-takes-majority-stake-in-baker-hughes-spc-for-global-reach">formed a joint venture</a> with Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), taking a 65% stake and operational control of Baker Hughes&#8217; Surface Pressure Control (SPC) business. Baker Hughes will retain a 35% stake. The new venture, separate from Cactus' current pressure control unit, will focus on international wellhead and production tree systems.</li>
</ul>
<ul class="wp-block-list">
<li>Guardian Pharmacy Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRDN#NYSE">GRDN</a>) is <a href="https://www.benzinga.com/pressreleases/25/06/b45719054/guardian-pharmacy-services-expands-pacific-northwest-footprint-with-acquisition-of-washington-base" target="_blank" rel="noreferrer noopener">entering the Pacific Northwest market</a> via acquisition. Mercury Pharmacy Services, a provider of long-term care pharmacy solutions, agreed to a price, but <a href="https://www.benzinga.com/m-a/25/06/45723960/guardian-pharmacy-strengthens-us-footprint-with-new-seattle-area-acquisition">the amount remains undisclosed</a>.</li>
</ul>
<h3 class="wp-block-heading">Bankruptcy Block</h3>
<ul class="wp-block-list">
<li>AI startup Builder.ai has filed for Chapter 7 bankruptcy in Delaware after creditors seized most of its cash, citing overstated 2024 sales projections—by a staggering 300%. Once valued at $1.5 billion, Builder.ai is now the biggest AI collapse since the ChatGPT-driven investment boom began. According <a href="https://www.bloomberg.com/news/articles/2025-06-05/builder-ai-files-for-bankruptcy-after-creditors-seize-accounts?sref=TBDibEcD">to</a> Bloomberg, the fallout was fueled by revelations that Builder.ai allegedly faked business with Indian social media firm VerSe Innovation to inflate revenues. VerSe co-founder Umang Bedi denies any wrongdoing, calling the claims "baseless and false."</li>
</ul>
<ul class="wp-block-list">
<li>Hooters closed some 30 corporate-owned restaurants and explained that it has <a href="https://www.businesswire.com/news/home/20250331979797/en/Hooters-of-America-Takes-Strategic-Action-to-Continue-its-Iconic-Legacy-Under-Pure-Franchise-Business-Model" target="_blank" rel="noreferrer noopener">no plans </a>to shut down any other locations. The Atlanta, Georgia-based restaurant chain went <a href="https://www.benzinga.com/personal-finance/25/04/44647084/hooters-files-for-bankruptcy-says-brand-isnt-going-anywhere">bankrupt earlier this year</a>.</li>
</ul>
<ul class="wp-block-list">
<li>Alex Jones may see his personal assets — including guns, cars, and homes — sold by the end of the year, according to the Houston Chronicle, <a href="https://www.houstonchronicle.com/news/houston-texas/texas/article/alex-jones-personal-assets-sales-bankruptcy-20361565.php">citing</a> a bankruptcy trustee. The potential sale would mark the nearing end of his two-and-a-half-year bankruptcy process. Jones, who created the far-right conspiracy theory website Infowars, filed for bankruptcy in 2022 after being ordered to pay nearly $1.5 billion to families of Sandy Hook shooting victims for defamation.</li>
</ul>
<h3 class="wp-block-heading">Notes From The Block</h3>
A studio's IP portfolio and game development pipeline are critical for video game investors. A major acquirer in the sector is GDEV Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDEV#NASDAQ">GDEV</a>). The Cyprus-based company has made three M&amp;A deals and spent $100 million on studio acquisitions since 2022. 
This week, Andrey Fadeev drafted <a href="https://www.benzinga.com/m-a/25/06/45722621/gdevs-founder-ceo-evaluates-m-a-deals-using-these-5-metrics">a listicle of key metrics</a> GDEV uses for M&amp;A evaluation.
<ol class="wp-block-list">
<li>LTV/CAC Ratio – Measures how efficiently a studio converts user acquisition spend into revenue. A ratio above 1.0 indicates profitable user growth.</li>
<li>Retention Rates (D1, D7, D30) – Track user engagement over time. High retention signals strong gameplay and monetization potential. Benchmarks vary by genre.</li>
<li>ARPU/ARPPU – Indicate monetization efficiency. ARPU includes all users; ARPPU focuses on paying users. Higher ARPU justifies higher CAC.</li>
<li>DAU/MAU Ratio – Shows user engagement depth. A ratio above 20% is considered strong.</li>
<li>EBITDA – Reflects core operational profitability and financial health. High EBITDA margins show sustainable growth and efficiency.</li>
</ol>
In 2024, video game M&amp;A activity reached $27.3 billion, underscoring the sector's immense growth and investment appeal. C-suite executives would be wise to consider these metrics when searching for their next target. 
<a href="https://www.benzinga.com/markets/asset-sales/25/05/45702349/deal-dispatch-beauty-brand-behavioral-health-firms-hit-auction-block">For last week&#8217;s edition of Deal Dispatch, click here</a>.
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<li><a href="https://www.benzinga.com/m-a/25/06/45816311/conagra-sells-seafood-brands-for-55m-as-it-sharpens-focus-on-core-business">Conagra Sells Seafood Brands For $55M As It Sharpens Focus On Core Business</a></li>
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Image created using a photo from Shutterstock.

BPMC

GDEV

GRDN

HOOD

KEYS

MLTX

POST

ROSE

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Deal Dispatch: TV Stations For Sale, This Buyer Wants Seconds On Pasta

Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) has outperformed the market over the past 5 years by 3.04% on an annualized basis producing an average annual return of 16.1%. Currently, Baker Hughes has a market capitalization of $37.27 billion. 
Buying $100 In BKR: If an investor had bought $100 of BKR stock 5 years ago, it would be worth $218.28 today based on a price of $37.62 for BKR at the time of writing.
<h3>Baker Hughes's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748880913_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Baker Hughes 5 Years Ago Would Be Worth This Much Today

Cactus Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) will become the majority owner of a <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/g45719936/baker-hughes-cactus-create-joint-venture-for-surface-pressure-control-services" rel="noreferrer noopener">new joint venture</a> with Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), which will take control of BKR&#8217;s Surface Pressure Control (SPC) business. The agreement, announced Monday, marks a strategic realignment as both companies look to expand their global oilfield equipment footprint.
Baker Hughes will retain a 35% stake, while Cactus <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/b45719934/cactus-announces-agreement-to-acquire-65-controlling-interest-in-baker-hughes-surface-pressure-con" rel="noreferrer noopener">will acquire 65%</a> and operational control. The venture, which will function separately from Cactus&#8217; existing pressure control division, will focus on supplying wellhead and production tree systems to international markets.
The move supports Baker Hughes&#8217; efforts to streamline its portfolio and allocate capital to higher-return segments. CEO Lorenzo Simonelli said the deal helps sharpen the company&#8217;s strategic focus while ensuring continuity for SPC clients. He added that the partnership brings together Cactus&#8217;s agility and Baker Hughes&#8217; global scale to boost innovation in well-controlled systems.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/06/45716769/shell-occidental-petroleum-and-exxon-mobil-rise-in-monday-premarket-whats-going-on" rel="noreferrer noopener">Shell, Occidental Petroleum And Exxon Mobil Rise In Monday Premarket: What&#8217;s Going On?</a>
Cactus CEO Scott Bender highlighted the value of SPC&#8217;s global reach, with around 85% of its revenue tied to the Middle East. The acquisition reduces Cactus&#8217;s exposure to the U.S. market and adds a $600 million order backlog, providing strong revenue visibility and cash flow stability.
The $530 million joint venture values Cactus&#8217; 65% share at $344.5 million. The company intends to fund the deal using existing cash and may tap its unused $225 million credit facility. The agreement includes an option for Cactus to buy the remaining 35% after two years. The transaction is expected to close in the second half of 2025.
The company had <a href="https://www.benzinga.com/pressreleases/25/04/b45121011/cactus-announces-first-quarter-2025-results">cash and equivalents</a> of $347.7 million, with no bank debt outstanding as of March 31, 2025.
Related ETFs: Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: At last check Monday, WHD shares are trading higher by 2.76% to $42, and BKR was up 0.61% to $37.28.
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Photo by hkhtt hj via Shutterstock

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Cactus Takes Majority Stake In Baker Hughes' SPC For Global Reach

Cactus, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) (&quot;Cactus&quot; or the &quot;Company&quot;) announced today that its subsidiary Cactus Companies, LLC has entered into a definitive agreement with certain subsidiaries of Baker Hughes Company (&quot;Baker Hughes&quot;) to acquire 65% and assume operational control of the Baker Hughes Surface Pressure Control Business (&quot;SPC&quot; or the &quot;Business&quot;). SPC designs, manufactures and services specialized surface pressure control solutions, primarily wellheads and production tree equipment, for international markets.
Business Highlights
<ul>
<li>Acquisition establishes Cactus&#39; position as a premier, capital-light and geographically diversified oilfield equipment manufacturer</li>
<li>Transforms Cactus&#39; geographic footprint, with ~85% of SPC revenues generated in the Middle East and no material U.S. external sales, providing for a more diverse and stable consolidated Cactus Pressure Control revenue profile through market cycles</li>
<li>Greater revenue, earnings and cash flow visibility from the acquisition resulting from SPC&#39;s $600+ million product and aftermarket service backlog as of December 31, 2024</li>
<li>Highly accretive to financial metrics while maintaining a conservative balance sheet</li>
<li>A Joint Venture will be formed to hold SPC, and Baker Hughes will retain 35% ownership in the Joint Venture post-closing</li>
</ul>
Scott Bender, Chairman and CEO of Cactus, commented, &quot;I am extremely pleased to announce this acquisition today, which is the result of a long, exhaustive process to responsibly enter several of the most important oil and gas markets in the world. The SPC Business meets all of our acquisition criteria. Its geographic footprint is highly complementary to Cactus&#39; existing business, and this combination enables us to expand our reach as a capital-light manufacturer of highly-engineered products sold directly to end users. Additionally, our leadership team&#39;s familiarity with the Business, which operates former Wood Group Pressure Control assets that members of our team previously managed, provides increased confidence in operating the business efficiently. We are excited to partner with Baker Hughes in the Joint Venture operating SPC, as their partnership will be instrumental to transition key administrative services and will assist in a smooth transition of critical customer relationships and long-term contracts.
The current SPC leadership team has substantially improved the operating and financial performance of the Business in the past several years through service facility and manufacturing footprint rationalizations, and we look forward to continuing optimization work with the leadership team to further progress SPC&#39;s capabilities. Over time, we expect to enhance the supply chain given our specialized knowledge of these products and our expanding global low-cost manufacturing footprint, driving improved financial returns.
In conclusion, we have been evaluating alternatives to expand our operational capabilities and geographic footprint, and we believe that the acquisition of our interest in SPC represents the most attractive expansion opportunity available. This transaction provides us with improved access to important new non-tariff impacted markets for both Pressure Control and Spoolable Technologies products to continue the growth trajectory we have demonstrated since our founding and should diversify and stabilize our revenue streams through cycles. I am pleased that we have structured the transaction to enable us to acquire a controlling share of the business while maintaining financial flexibility in this market environment, and we expect to close the transaction later this year with little-to-no net debt. We look forward to operating this business with the same focus on margins, returns and customer execution that you have come to expect of Cactus, with the goal of increasing long-term value for shareholders.&quot;
Transaction &amp; Financing Details
Cactus will purchase a 65% interest in SPC for $344.5 million ($530 million total enterprise value on a cash-free, debt-free basis) subject to customary purchase price adjustments. Cactus also plans to capitalize the JV balance sheet with $70 million of operating cash at close, and Baker Hughes will contribute 35% of that cash which will be paid back to them over time. Any time after the second anniversary of closing, Cactus has the right to purchase, and Baker Hughes has the right to require Cactus to purchase, the remaining 35% interest. Cactus expects to utilize cash on hand (approx. $348 million as of March 31, 2025) and funds from its undrawn $225 million revolving credit facility to fund the up-front consideration. The Company may elect to pursue one or more debt financing transactions prior to closing to preserve revolving credit facility liquidity. Closing is expected to occur in the second half of 2025.

Cactus To Acquire 65% Interest In Baker Hughes Surface Pressure Control Business For $344.5M

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