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

Baker Hughes Company (NASDAQ:BKR) has earned an average rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $70.0909.

Several brokerages have issued reports on BKR. UBS Group raised their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Zacks Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Weiss Ratings lowered Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, TD Cowen lifted their price objective on Baker Hughes from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd.

Insiders Place Their Bets

In related news, CAO Rebecca L. Charlton sold 5,088 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the sale, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. This represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total transaction of $10,599,844.73. Following the completion of the transaction, the chief executive officer directly owned 703,444 shares in the company, valued at approximately $41,102,232.92. This represents a 20.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 367,910 shares of company stock worth $22,420,797 in the last quarter. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently modified their holdings of BKR. State Street Corp raised its stake in shares of Baker Hughes by 1.6% during the fourth quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after purchasing an additional 937,614 shares during the period. Cardano Risk Management B.V. increased its holdings in Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after buying an additional 44,887,481 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after acquiring an additional 204,534 shares in the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes during the fourth quarter worth $1,022,491,000. Finally, Capital International Investors raised its stake in Baker Hughes by 6.4% during the fourth quarter. Capital International Investors now owns 15,933,590 shares of the company’s stock worth $725,616,000 after acquiring an additional 956,808 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.2%

Shares of NASDAQ:BKR opened at $57.78 on Friday. The company has a market capitalization of $57.32 billion, a PE ratio of 18.46, a P/E/G ratio of 2.07 and a beta of 0.96. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes has a twelve month low of $38.37 and a twelve month high of $70.41. The firm has a 50 day simple moving average of $61.34 and a 200-day simple moving average of $59.39.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. On average, equities analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) is 29.39%.

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.