Freedom Broker Upgrades Baker Hughes (NASDAQ:BKR) to Hold

Baker Hughes (NASDAQ:BKR) was upgraded by Freedom Broker from a “sell” rating to a “hold” rating in a research note issued on Friday, Benzinga reports. The firm presently has a $52.00 price objective on the stock, up from their previous price objective of $51.00. Freedom Broker‘s price objective would indicate a potential downside of 5.85% from the company’s previous close.

Several other research firms have also weighed in on BKR. Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. The Goldman Sachs Group initiated coverage on shares of Baker Hughes in a report on Tuesday, September 29th. They set a “buy” rating and a $71.00 price target for the company. Citigroup reduced their price target on shares of Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group decreased 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 note on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.27.

Baker Hughes Price Performance

Baker Hughes stock opened at $55.23 on Friday. The business has a 50 day simple moving average of $58.13 and a 200 day simple moving average of $60.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. The company has a market capitalization of $54.83 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. Baker Hughes has a one year low of $44.26 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.74 billion. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. On average, sell-side analysts forecast that Baker Hughes will post 2.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC increased its stake in shares of Baker Hughes by 17.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 19,991 shares of the company’s stock valued at $1,098,000 after buying an additional 3,005 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Baker Hughes by 12.6% during the third quarter. Kestra Private Wealth Services LLC now owns 11,838 shares of the company’s stock worth $650,000 after acquiring an additional 1,327 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Baker Hughes by 37.3% during the third quarter. Boston Trust Walden Corp now owns 67,970 shares of the company’s stock worth $3,732,000 after acquiring an additional 18,481 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Baker Hughes by 139.2% during the third quarter. Chicago Partners Investment Group LLC now owns 11,508 shares of the company’s stock valued at $643,000 after acquiring an additional 6,696 shares during the period. Finally, Rakuten Investment Management Inc. lifted its stake in shares of Baker Hughes by 10.6% during the third quarter. Rakuten Investment Management Inc. now owns 264,246 shares of the company’s stock valued at $14,777,000 after acquiring an additional 25,242 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.