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Cactus ( (WHD) ) has shared an announcement.
On January 2, 2025, Cactus, Inc. completed its previously announced acquisition of a 65% controlling interest in Baker Hughes Company’s Surface Pressure Control business, a move the company described as transformational because it broadens its geographic footprint and opens access to new growth markets while reinforcing its focus on safety, customer execution, margins and returns. In connection with the transaction, the parties entered into an amended and restated LLC Agreement for their joint venture that sets out an exit option for Baker Hughes and Cactus based on a capped valuation tied to the venture’s Adjusted EBITDA, governance provisions requiring supermajority board approval for major actions, restrictions on transfers of membership interests, and mutual non-compete obligations in specified surface pressure control markets, collectively shaping control, valuation and competitive boundaries for the combined business.
The most recent analyst rating on (WHD) stock is a Buy with a $56.00 price target. To see the full list of analyst forecasts on Cactus stock, see the WHD Stock Forecast page.
Spark’s Take on WHD Stock
According to Spark, TipRanks’ AI Analyst, WHD is a Outperform.
Cactus, Inc. demonstrates strong financial stability and technical momentum, supported by strategic acquisitions. While facing some revenue growth challenges and tariff impacts, the company’s solid balance sheet and international expansion efforts provide a positive outlook. The stock is moderately valued, with a consistent dividend policy adding to shareholder returns.
To see Spark’s full report on WHD stock, click here.
More about Cactus
Cactus, Inc. designs, manufactures, sells and rents highly engineered pressure control equipment and spoolable pipe technologies primarily for onshore unconventional oil and gas wells, supporting drilling, completion and production phases. The company also provides related field services and operates service centers across North America and Australia, while supplying equipment and services in select international markets.
Average Trading Volume: 693,808
Technical Sentiment Signal: Buy
Current Market Cap: $3.65B
For detailed information about WHD stock, go to TipRanks’ Stock Analysis page.