Baker Hughes Company (NASDAQ:BKR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Baker Hughes Company (NASDAQ:BKR) have received an average rating of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $58.3043.

BKR has been the subject of a number of recent research reports. Argus increased their price objective on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Capital One Financial upped their price objective on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Susquehanna boosted their price target on shares of Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Finally, Barclays increased their target price on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th.

Insider Transactions at Baker Hughes

In related news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total transaction of $1,032,537.67. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the completion of the transaction, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at approximately $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 20,851 shares of company stock worth $1,190,736. 0.27% of the stock is owned by insiders.

Institutional Trading of Baker Hughes

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Baker Hughes in the 2nd quarter valued at about $862,722,000. Capital International Investors acquired a new stake in shares of Baker Hughes in the third quarter valued at approximately $729,670,000. Bessemer Group Inc. increased its stake in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after purchasing an additional 3,464,637 shares in the last quarter. First Trust Advisors LP raised its position in shares of Baker Hughes by 76.0% during the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after purchasing an additional 3,203,942 shares during the last quarter. Finally, Capital World Investors lifted its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after buying an additional 3,153,709 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $59.55 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $58.76 billion, a P/E ratio of 22.90, a PEG ratio of 1.59 and a beta of 0.89. The business has a 50 day simple moving average of $50.30 and a 200-day simple moving average of $47.91. Baker Hughes has a twelve month low of $33.60 and a twelve month high of $59.84.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the prior year, the business earned $0.70 EPS. Baker Hughes’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

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.