BMO Capital Markets Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its target price lifted by investment analysts at BMO Capital Markets from $55.00 to $65.00 in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 14.78% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Evercore ISI set a $54.00 price objective on Baker Hughes in a research note on Monday, October 27th. Susquehanna lifted their price target on Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th. Piper Sandler upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Barclays raised their price objective on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Zephirin Group lifted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday. Twenty-one investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.21.

Baker Hughes Trading Up 0.2%

NASDAQ:BKR opened at $56.63 on Tuesday. The firm has a market capitalization of $55.88 billion, a P/E ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89. 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 one year low of $33.60 and a one year high of $57.58. The company’s 50-day simple moving average is $48.96 and its 200 day simple moving average is $46.91.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, January 25th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Institutional Trading of Baker Hughes

A number of institutional investors have recently made changes to their positions in the stock. Woodline Partners LP lifted its position in Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth raised its stake in Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after buying an additional 986 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Baker Hughes by 15.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,996 shares of the company’s stock valued at $307,000 after buying an additional 1,051 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after buying an additional 292 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Baker Hughes by 3.9% in the second quarter. Truist Financial Corp now owns 386,710 shares of the company’s stock worth $14,826,000 after acquiring an additional 14,621 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Trending Headlines about Baker Hughes

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Q4 results beat consensus — Baker Hughes reported stronger-than-expected Q4 results (EPS and revenue ahead of estimates), which analysts cited when raising forecasts; this underpins the recent analyst upgrades. Read More.
• Positive Sentiment: Argus raised its price target to $67 (largest upside noted), signaling stronger fundamental conviction and giving BKR notable upside potential vs. the current price. Read More.
• Positive Sentiment: BMO, TD Cowen and other firms lifted targets (BMO to $65, TD Cowen to $64), adding buy/outperform views that support demand into the shares.
• Positive Sentiment: Major banks raised ratings/targets — JPMorgan to $60 (overweight), Capital One to $59 (overweight) and UBS to $61 (neutral but higher target) — broad-based analyst support reduces near-term downside risk and can attract flows from model/quant funds. Read More. Read More.
• Positive Sentiment: Independent forecasters (Zephirin Group/AmericanBankingNews) are projecting strong price appreciation, which may fuel retail interest and momentum buying. Read More.
• Neutral Sentiment: Short-interest reports show anomalous values (0 shares / NaN change and 0.0 days-to-cover) for late January — appears to be data/reporting noise rather than a meaningful change in short positioning. (No clear short squeeze signal.)
• Neutral Sentiment: Supplementary coverage and the Q4 earnings call transcript provide color on outlook/margins but contain no single new catalyst beyond the earnings beat; see transcript and fair-value discussion for detail. Read More. Read More.

About Baker Hughes

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.