Baker Hughes Company (NASDAQ:BKR) Stock Has Consensus Price Target of $71.81

Baker Hughes Company (NASDAQ:BKR) has received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $71.81.

Several equities analysts have issued reports on the company. Zacks Research raised Baker Hughes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 16th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler lifted their price objective on shares of Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Wolfe Research initiated coverage on shares of Baker Hughes in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, UBS Group boosted their target price on shares of Baker Hughes from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, September 14th.

Institutional Trading of Baker Hughes

Several large investors have recently made changes to their positions in the company. OP Asset Management Ltd purchased a new position in shares of Baker Hughes during the first quarter valued at approximately $6,049,000. NewEdge Advisors LLC raised its position in Baker Hughes by 152.3% in the 2nd quarter. NewEdge Advisors LLC now owns 149,817 shares of the company’s stock valued at $8,315,000 after buying an additional 90,427 shares during the last quarter. National Pension Service lifted its stake in Baker Hughes by 5.1% during the 4th quarter. National Pension Service now owns 1,317,478 shares of the company’s stock valued at $59,998,000 after acquiring an additional 64,323 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Baker Hughes by 2.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company’s stock valued at $86,230,000 after acquiring an additional 37,473 shares in the last quarter. Finally, ABN AMRO Bank N.V. boosted its holdings in Baker Hughes by 6.5% during the 1st quarter. ABN AMRO Bank N.V. now owns 679,842 shares of the company’s stock worth $41,625,000 after acquiring an additional 41,657 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $57.83 on Wednesday. The business has a 50-day moving average price of $60.78 and a two-hundred day moving average price of $61.17. Baker Hughes has a 1-year low of $43.92 and a 1-year high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market cap of $57.41 billion, a P/E ratio of 18.65, a PEG ratio of 2.58 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that Baker Hughes will post 2.53 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes’s dividend payout ratio is currently 29.68%.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company’s portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.