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

Baker Hughes Company (NASDAQ:BKR) has earned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $53.9167.

Several equities research analysts have commented on BKR shares. Citigroup upped their price objective on Baker Hughes from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Piper Sandler raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Baker Hughes in a report on Monday, December 15th. Finally, Royal Bank Of Canada increased their target price on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th.

Insider Buying and Selling

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

Institutional Investors Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently added to or reduced their stakes in BKR. Norges Bank acquired a new stake in shares of Baker Hughes in the second quarter valued at about $862,722,000. Capital International Investors acquired a new stake in Baker Hughes in the 3rd quarter valued at about $729,670,000. First Trust Advisors LP lifted its stake in Baker Hughes by 76.0% in the 2nd quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock worth $284,446,000 after purchasing an additional 3,203,942 shares in the last quarter. Capital World Investors lifted its stake in Baker Hughes by 7.1% in the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Baker Hughes by 247.5% during the 2nd quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock worth $120,177,000 after purchasing an additional 2,232,394 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.5%

NASDAQ:BKR opened at $44.71 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The company’s fifty day moving average price is $47.65 and its 200-day moving average price is $44.84. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $51.12. The firm has a market capitalization of $44.12 billion, a P/E ratio of 15.42, a PEG ratio of 1.62 and a beta of 0.90.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. Baker Hughes’s dividend payout ratio is currently 31.72%.

About Baker Hughes

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.