Baker Hughes Company (NASDAQ:BKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Baker Hughes Company (NASDAQ:BKR) has been given a consensus rating of “Moderate Buy” by the twenty-six brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $54.0417.

A number of analysts have recently commented on BKR shares. Zephirin Group lifted their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Piper Sandler raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Barclays lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets boosted their target price on shares of Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th.

Baker Hughes Trading Up 4.0%

Shares of NASDAQ:BKR opened at $52.00 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes has a 1 year low of $33.60 and a 1 year high of $52.16. The company has a market cap of $51.31 billion, a P/E ratio of 17.93, a PEG ratio of 1.59 and a beta of 0.89. The stock’s fifty day moving average price is $47.91 and its 200-day moving average price is $45.95.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.Baker Hughes’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. Sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Institutional Investors Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Woodline Partners LP boosted its holdings in shares of Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock worth $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its position in Baker Hughes by 5.6% in the first quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Baker Hughes by 16.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,895 shares of the company’s stock worth $149,000 after acquiring an additional 561 shares during the period. Czech National Bank boosted its stake in shares of Baker Hughes by 6.5% during the 2nd quarter. Czech National Bank now owns 242,174 shares of the company’s stock worth $9,285,000 after acquiring an additional 14,761 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Baker Hughes by 12.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 125,459 shares of the company’s stock valued at $4,810,000 after acquiring an additional 13,960 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.