Baker Hughes Company (NYSE:BKR) shares are trading higher in Monday’s premarket session, outperforming a weaker broader market as energy stocks attract buying interest. Nasdaq futures are down 0.51%, while S&P 500 futures have slipped 0.49%.
The move follows news that the company on Monday agreed to sell its Waygate Technologies business to Hexagon (OTC:HXGBY) in an all-cash transaction valued at approximately $1.45 billion.
Deal Details
The transaction includes Waygate’s full portfolio of non-destructive testing solutions, including remote visual inspection, ultrasound, radiography, and imaging.
It also covers all related assets, including intellectual property and operational resources.
The business operates within Baker Hughes’ Industrial & Energy Technology segment.
The deal is expected to close in the second half of 2026, subject to regulatory approvals and customary conditions.
Strategic Context
The divestiture follows three recently completed transactions and the pending acquisition of Chart Industries.
It underscores Baker Hughes’ strategy to streamline its portfolio, strengthen its balance sheet, and enhance earnings and cash flow durability.
Baker Hughes held cash and cash equivalents of $3.715 billion as of December 31, 2025.
BKR at $63.66; 27.7% Above 200-Day
At $63.66, the stock is trading 5% above its 20-day simple moving average (SMA) and 16.2% above its 100-day SMA, indicating strong short-term and intermediate-term trends.
The stock is also trading 27.7% above its 200-day SMA, which suggests a bullish long-term outlook.
The relative strength index (RSI) is currently at 57.60, indicating neutral momentum, while the moving average convergence divergence (MACD) shows a bullish trend with the MACD at 0.7670 and the signal line at 0.6021.
This suggests that upward momentum may continue as the stock remains above key moving averages.
- Key Resistance: $64.50 — This level has historically served as a barrier for upward movement.
- Key Support: $59.00 — This level has been a point of demand in previous downturns.
BKR Runs Two Segments After 2022 Reorg
Following a 2022 reorganization, Baker Hughes operates in two segments: oilfield services and equipment, and industrial and energy technology. The firm’s oilfield services segment is one of the Big Three oilfield services players, primarily supplying hydrocarbon developers and producers worldwide.
The recent sale of Waygate Technologies is significant as it allows Baker Hughes to focus more on its core competencies in oilfield services and energy technology, potentially leading to improved operational efficiency and profitability. This strategic shift could enhance the company’s competitive position in the energy market.
BKR ETF Weights: XES 4.79%, FENY 2.52%
- FT Vest Rising Dividend Achievers Target Income ETF (NASDAQ:RDVI): 2.36% Weight
- Fidelity MSCI Energy Index ETF (NYSE:FENY): 2.52% Weight
- State Street SPDR S&P Oil & Gas Equipment & Services ETF (NYSE:XES): 4.79% Weight
Significance: Because BKR carries significant weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.
Price Action
BKR Stock Price Activity: Baker Hughes shares were up 1.61% at $63.84 during premarket trading on Monday, according to Benzinga Pro data.
Photo by hkhtt hj via Shutterstock
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