Baker Hughes Company (NASDAQ:BKR) Receives $69.14 Average PT from Analysts

Shares of Baker Hughes Company (NASDAQ:BKR) have earned a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $69.1364.

Several equities analysts recently commented on BKR shares. Evercore restated an “outperform” rating and set a $76.00 target price on shares of Baker Hughes in a research report on Monday, April 27th. Royal Bank Of Canada raised their target price on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. BMO Capital Markets raised their target price on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Barclays restated an “equal weight” rating and set a $74.00 target price (up from $62.00) on shares of Baker Hughes in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction on Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the completion of the transaction, the chief executive officer owned 784,944 shares in the company, valued at approximately $49,734,051.84. The trade was a 18.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total value of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of BKR. Cardano Risk Management B.V. raised its position in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Norges Bank bought a new position in Baker Hughes in the 4th quarter valued at $1,022,491,000. Capital International Investors bought a new position in Baker Hughes in the 3rd quarter valued at $729,670,000. Price T Rowe Associates Inc. MD raised its position in Baker Hughes by 58.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after purchasing an additional 4,278,573 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after purchasing an additional 3,464,637 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $58.41 on Monday. Baker Hughes has a 12-month low of $37.38 and a 12-month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $57.95 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The firm has a 50-day moving average price of $64.02 and a 200 day moving average price of $58.31.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Research analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

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.