Capital One Financial Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective boosted by investment analysts at Capital One Financial from $53.00 to $59.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. Capital One Financial‘s target price suggests a potential upside of 4.19% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Industrial Alliance Securities set a $60.00 price target on shares of Baker Hughes in a research report on Tuesday. Bank of America lifted their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group lifted their price objective on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a report on Thursday, January 15th. Twenty-one research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $57.21.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $56.63 on Tuesday. The company’s fifty day moving average price is $48.96 and its 200-day moving average price is $46.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89. Baker Hughes has a one year low of $33.60 and a one year high of $57.58.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management boosted its holdings in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Baker Hughes by 55.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock valued at $38,000 after purchasing an additional 300 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Baker Hughes during the 2nd quarter valued at about $36,000. 92.06% of the stock is currently owned by institutional investors.

Key Headlines Impacting 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.

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.