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

Shares of Baker Hughes Company (NASDAQ:BKR) have received an average recommendation of “Moderate Buy” from the twenty-seven research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $53.4167.

Several research firms have recently weighed in on BKR. Industrial Alliance Securities set a $53.00 price target on shares of Baker Hughes in a research note on Wednesday, July 30th. Jefferies Financial Group raised their price objective on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Barclays upped their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. TD Cowen increased their price target on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Bank of America lifted their price objective on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, October 14th.

Baker Hughes Stock Performance

BKR stock opened at $49.53 on Thursday. Baker Hughes has a twelve month low of $33.60 and a twelve month high of $50.92. The firm has a market cap of $48.87 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.06 and a beta of 1.03. The business’s fifty day simple moving average is $47.87 and its two-hundred day simple moving average is $43.54. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The firm had revenue of $5.09 billion for the quarter. Analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is presently 31.72%.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management grew its stake in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Baker Hughes in the 1st quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares in the last quarter. Harbour Investments Inc. grew its position in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Baker Hughes during the 2nd quarter valued at approximately $36,000. 92.06% of the stock is owned by institutional investors and hedge funds.

About Baker Hughes

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.