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

Baker Hughes Company (NASDAQ:BKR) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $58.3043.

A number of research firms recently weighed in on BKR. Citigroup boosted their price target on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. UBS Group boosted their target price on Baker Hughes from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Capital One Financial upped their target price on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Zephirin Group lifted their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus upped their price objective on shares of Baker Hughes from $58.00 to $63.00 and gave the company a “buy” rating in a report on Monday, February 2nd.

Baker Hughes Price Performance

NASDAQ:BKR opened at $59.55 on Tuesday. The stock has a 50 day moving average of $50.30 and a two-hundred day moving average of $47.91. Baker Hughes has a 12 month low of $33.60 and a 12 month high of $59.84. The firm has a market cap of $58.76 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.92 annualized dividend and a yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 1,985 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the sale, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 20,851 shares of company stock valued at $1,190,736. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors have recently modified their holdings of the company. Krilogy Financial LLC boosted its position in shares of Baker Hughes by 3.2% during the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after acquiring an additional 180 shares in the last quarter. Formidable Asset Management LLC raised its holdings in Baker Hughes by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after buying an additional 228 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Baker Hughes by 1.4% in the 2nd quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after buying an additional 233 shares in the last quarter. Finally, AMG National Trust Bank raised its stake in Baker Hughes by 3.7% during the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after acquiring an additional 246 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Company Profile

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.