Baker Hughes (NASDAQ:BKR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.38.

Several research firms have commented on BKR. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler decreased their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus increased their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th.

Baker Hughes Trading Down 0.3 %

BKR stock opened at $35.17 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41. The firm’s fifty day simple moving average is $35.27 and its two-hundred day simple moving average is $33.26.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Baker Hughes will post 2.24 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. Baker Hughes’s payout ratio is 46.93%.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP raised its holdings in Baker Hughes by 183.0% in the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after buying an additional 219,060 shares during the period. Cibc World Markets Corp lifted its position in Baker Hughes by 59.4% in the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after buying an additional 102,174 shares during the last quarter. Caxton Associates LP acquired a new position in Baker Hughes in the fourth quarter valued at about $13,672,000. KBC Group NV lifted its position in Baker Hughes by 207.1% in the fourth quarter. KBC Group NV now owns 237,356 shares of the company’s stock valued at $8,113,000 after buying an additional 160,056 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in Baker Hughes by 255.9% in the fourth quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock valued at $11,369,000 after buying an additional 239,160 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.