Baker Hughes Company (NASDAQ:BKR) Given Average Rating of “Moderate Buy” by Brokerages

Baker Hughes Company (NASDAQ:BKR) has been assigned an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $58.7826.

BKR has been the subject of several recent analyst reports. HSBC increased their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Capital One Financial raised their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Susquehanna upped their target price on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. BMO Capital Markets increased their price target on shares of Baker Hughes from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Saturday, February 7th.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 843 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total transaction of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Baker Hughes

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after purchasing an additional 598,159 shares during the period. State Street Corp boosted its stake in Baker Hughes by 1.6% in the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after buying an additional 937,614 shares in the last quarter. Cardano Risk Management B.V. grew its position in Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the period. Capital World Investors raised its stake in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after acquiring an additional 204,534 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $61.20 on Tuesday. The firm has a market capitalization of $60.39 billion, a PE ratio of 23.54, a PEG ratio of 1.65 and a beta of 0.89. Baker Hughes has a 1 year low of $33.60 and a 1 year high of $62.27. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $51.17 and its 200 day simple moving average is $48.31.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. On average, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.