Baker Hughes (NYSE:BKR) Earns Buy Rating from Seaport Res Ptn

Seaport Res Ptn reissued their buy rating on shares of Baker Hughes (NYSE:BKRGet Rating) in a report published on Thursday morning, PriceTargets.com reports.

Several other research analysts have also recently commented on BKR. HSBC upgraded shares of Baker Hughes from a hold rating to a buy rating and set a $38.30 target price for the company in a report on Tuesday, April 26th. Susquehanna Bancshares dropped their price target on shares of Baker Hughes from $39.00 to $35.00 and set a positive rating on the stock in a research report on Thursday. Stephens dropped their price target on shares of Baker Hughes from $40.00 to $32.00 in a research report on Thursday. Susquehanna dropped their price target on shares of Baker Hughes from $39.00 to $35.00 in a research report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Baker Hughes from $40.00 to $35.00 and set an overweight rating on the stock in a research report on Wednesday, July 13th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of Moderate Buy and a consensus price target of $35.86.

Baker Hughes Stock Down 3.4 %

Baker Hughes stock opened at $24.08 on Thursday. Baker Hughes has a twelve month low of $19.80 and a twelve month high of $39.78. The company has a 50 day moving average of $31.70 and a 200-day moving average of $31.71. The stock has a market capitalization of $24.74 billion, a PE ratio of -56.00 and a beta of 1.55. The company has a quick ratio of 1.15, a current ratio of 1.51 and a debt-to-equity ratio of 0.44.

Baker Hughes (NYSE:BKRGet Rating) last announced its earnings results on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Baker Hughes will post 1.06 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, May 27th. Baker Hughes’s dividend payout ratio is presently -167.44%.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 103,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $35.00, for a total transaction of $3,605,000.00. Following the completion of the sale, the chief executive officer now owns 575,759 shares in the company, valued at $20,151,565. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Electric Co General sold 72,025,826 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the completion of the sale, the insider now directly owns 3,931,363 shares in the company, valued at $135,435,455.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lorenzo Simonelli sold 103,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $35.00, for a total value of $3,605,000.00. Following the completion of the sale, the chief executive officer now owns 575,759 shares of the company’s stock, valued at $20,151,565. The disclosure for this sale can be found here. Insiders sold a total of 72,231,826 shares of company stock worth $2,488,745,876 over the last quarter. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank lifted its stake in Baker Hughes by 1.5% during the second quarter. First Hawaiian Bank now owns 60,886 shares of the company’s stock worth $1,758,000 after purchasing an additional 905 shares during the last quarter. First Bank & Trust increased its holdings in shares of Baker Hughes by 92.9% during the second quarter. First Bank & Trust now owns 4,762 shares of the company’s stock worth $137,000 after buying an additional 2,294 shares in the last quarter. Central Bank & Trust Co. acquired a new position in shares of Baker Hughes during the second quarter worth $4,455,000. Dixon Hubard Feinour & Brown Inc. VA increased its holdings in shares of Baker Hughes by 15.3% during the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 81,085 shares of the company’s stock worth $2,341,000 after buying an additional 10,790 shares in the last quarter. Finally, Hartford Investment Management Co. increased its holdings in shares of Baker Hughes by 2.7% during the second quarter. Hartford Investment Management Co. now owns 69,115 shares of the company’s stock worth $1,995,000 after buying an additional 1,849 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors.

About Baker Hughes

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

Further Reading

Analyst Recommendations for Baker Hughes (NYSE:BKR)

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