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

Baker Hughes (NASDAQ:BKR) has been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $49.11.

A number of brokerages recently weighed in on BKR. Royal Bank of Canada reduced their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Piper Sandler reduced their price target on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Barclays dropped their price objective on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. TD Securities dropped their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently made changes to their positions in the business. JFS Wealth Advisors LLC grew its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Baker Hughes by 678.7% during the first quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock valued at $30,000 after acquiring an additional 604 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of BKR stock opened at $37.29 on Thursday. The stock has a market capitalization of $36.95 billion, a PE ratio of 12.51, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a 50 day moving average of $37.58 and a two-hundred day moving average of $41.65. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. On average, research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes’s dividend payout ratio is currently 31.40%.

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.