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

Shares of Baker Hughes Company (NASDAQ:BKR) have earned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $69.9545.

BKR has been the topic of several research reports. Evercore reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research report on Monday, April 27th. Piper Sandler raised their target price on Baker Hughes from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada lifted their price target on Baker Hughes from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Morgan Stanley began coverage on Baker Hughes in a research note on Friday. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, TD Cowen increased their price objective on Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th.

Insiders Place Their Bets

In other Baker Hughes news, CAO Rebecca L. Charlton sold 5,088 shares of Baker Hughes stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total value 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 trade represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of Baker Hughes stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the completion of the sale, the chief executive officer owned 703,444 shares of the company’s stock, valued at $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 367,910 shares of company stock worth $22,420,797. Insiders own 0.19% of the company’s stock.

Institutional Trading of Baker Hughes

Several large investors have recently modified their holdings of the company. Cardano Risk Management B.V. boosted its holdings in shares of 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 worth $2,247,550,000 after buying an additional 44,887,481 shares during the last quarter. Norges Bank bought a new stake in shares of Baker Hughes during the 4th quarter valued at $1,022,491,000. Price T Rowe Associates Inc. MD grew its position in shares of Baker Hughes by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock valued at $529,896,000 after acquiring an additional 4,278,573 shares during the period. Bessemer Group Inc. increased its stake in shares of Baker Hughes by 12,983.5% in the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after purchasing an additional 3,464,637 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Baker Hughes in the 4th quarter worth $144,262,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 4.1%

Shares of Baker Hughes stock opened at $64.07 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes has a 12-month low of $41.96 and a 12-month high of $70.41. The company has a market cap of $63.60 billion, a P/E ratio of 20.67, a PEG ratio of 1.95 and a beta of 0.97. The company’s fifty day simple moving average is $59.06 and its two-hundred day simple moving average is $60.80.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts anticipate that Baker Hughes will post 2.46 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a $0.23 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s dividend payout ratio is presently 29.68%.

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.