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

Shares of Baker Hughes Company (NASDAQ:BKR) have been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $59.6087.

Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Barclays upped their target price on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Piper Sandler raised their price target on Baker Hughes from $52.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Susquehanna boosted their price target on Baker Hughes from $58.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, January 27th. Finally, iA Financial set a $60.00 price objective on Baker Hughes in a research note on Tuesday, January 27th.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca L. Charlton sold 843 shares of the company’s 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 sale, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Deseret Mutual Benefit Administrators raised its stake in Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC boosted its stake in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after acquiring an additional 180 shares during the period. 3Chopt Investment Partners LLC boosted its stake in shares of Baker Hughes by 0.5% during the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after acquiring an additional 203 shares during the period. Formidable Asset Management LLC increased its holdings in shares of Baker Hughes by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after acquiring an additional 225 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after acquiring an additional 228 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR opened at $61.03 on Wednesday. Baker Hughes has a 12 month low of $33.60 and a 12 month high of $67.00. The firm has a fifty day simple moving average of $59.82 and a 200 day simple moving average of $52.08. The stock has a market capitalization of $60.31 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.64 and a beta of 0.83. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was up .3% compared to the same quarter last year. Research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was 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.