Baker Hughes (NASDAQ:BKR) Price Target Raised to $61.00

Baker Hughes (NASDAQ:BKR) had its price target upped by Piper Sandler from $52.00 to $61.00 in a report published on Wednesday,MarketScreener reports. The firm currently has an overweight rating on the stock.

BKR has been the subject of a number of other research reports. Citigroup lifted their price objective on Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a research report on Monday, December 29th. HSBC raised their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. UBS Group boosted their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays raised their price objective on Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday. Twenty-one investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.58.

Baker Hughes Stock Down 1.2%

Shares of NASDAQ BKR opened at $56.04 on Wednesday. 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 $58.50. The business has a 50-day moving average of $49.28 and a two-hundred day moving average of $47.09. The company has a market capitalization of $55.30 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last announced 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. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently made changes to their positions in BKR. Activest Wealth Management lifted its position in shares of Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. Harbour Investments Inc. increased its stake in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after acquiring an additional 326 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes in the second quarter worth about $36,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Baker Hughes during the second quarter worth about $36,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes News Summary

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

• Positive Sentiment: Multi-year rollout of Leucipa (AI/analytics) with Expand Energy — expands Baker Hughes’ digital-energy footprint and recurring-software revenue potential across shale wells, which can improve margins and customer stickiness. Leucipa Rollout Strengthens Baker Hughes’ Digital Energy Footprint
• Positive Sentiment: Record IET backlog and new energy-transition deals drove a strong market reaction (reported as a ~5.7% intraday jump) — signals demand strength in industrial & transition businesses and supports revenue visibility. Baker Hughes (BKR) Is Up 5.7% After Record IET Backlog And New Energy Transition Deals – Has The Bull Case Changed?
• Positive Sentiment: Analyst price-target upgrades continue: Piper Sandler raised its target to $61 and maintained an overweight rating — adds third-party validation to the bull case and can attract marginal buyer flows. Piper Sandler Adjusts Baker Hughes Price Target to $61 From $52; Maintains Overweight
• Positive Sentiment: Additional broker upgrades: UBS to $61 and JPMorgan to $60 (and separate coverage noting a $67 target) — multiple houses raising targets increases analyst-driven credibility and may drive demand from institutional momentum buyers. UBS Group Raises Baker Hughes (NASDAQ:BKR) Price Target to $61.00 Baker Hughes (NASDAQ:BKR) Price Target Raised to $67.00 JPMorgan Chase & Co. Boosts Baker Hughes (NASDAQ:BKR) Price Target to $60.00
• Positive Sentiment: Orders for Wabash Valley clean ammonia fertilizer project — concrete energy-transition orders that diversify revenue toward low-carbon projects and enhance growth story. Baker Hughes Secures Multiple Orders to Advance Wabash Valley Resources’ Clean Ammonia Fertilizer Project
• Positive Sentiment: Deeper strategic collaboration with Hydrostor on reliable, resilient and sustainable power systems — reinforces Baker Hughes’ positioning in storage/renewable enablement markets. Baker Hughes and Hydrostor Deepen Strategic Collaboration
• Positive Sentiment: Capital One published a bullish forecast for BKR — another institutional view supporting upside expectations. Capital One Financial Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock
• Neutral Sentiment: Short-interest data reported as effectively zero / inconsistent for January — the published figure appears unreliable and provides no clear short-squeeze signal. Monitor official exchange short-interest releases for confirmation.

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.