Baker Hughes Company (NASDAQ:BKR) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Baker Hughes Company (NASDAQ:BKR) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $71.64.

BKR has been the subject of a number of research reports. Piper Sandler boosted their price objective on Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Weiss Ratings cut shares of Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Royal Bank Of Canada upped their price target on shares of Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Jefferies Financial Group lowered their price objective on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, TD Cowen upped their target price on shares of Baker Hughes from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 28th.

Baker Hughes Stock Down 2.1%

BKR opened at $55.92 on Wednesday. Baker Hughes has a one year low of $43.92 and a one year high of $70.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. The stock has a market capitalization of $55.51 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96. The business’s 50-day simple moving average is $60.81 and its 200-day simple moving average is $61.13.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Analysts anticipate that Baker Hughes will post 2.53 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s dividend payout ratio is currently 29.68%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its holdings in shares of Baker Hughes by 41.8% during the second quarter. QRG Capital Management Inc. now owns 107,019 shares of the company’s stock worth $5,940,000 after purchasing an additional 31,537 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Baker Hughes by 1,045.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 43,192 shares of the company’s stock valued at $2,397,000 after buying an additional 39,422 shares during the period. Anchor Investment Management LLC raised its position in Baker Hughes by 36.3% during the 2nd quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock worth $53,000 after buying an additional 254 shares during the last quarter. Talon Private Wealth LLC lifted its stake in shares of Baker Hughes by 17.2% in the 2nd quarter. Talon Private Wealth LLC now owns 57,411 shares of the company’s stock worth $3,186,000 after acquiring an additional 8,419 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Baker Hughes by 54.2% in the second quarter. Sequoia Financial Advisors LLC now owns 42,996 shares of the company’s stock valued at $2,386,000 after acquiring an additional 15,107 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.