Analysts Set Baker Hughes (NYSE:BKR) Price Target at $27.46

Shares of Baker Hughes (NYSE:BKR) have been assigned an average rating of “Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.66.

Several analysts have weighed in on BKR shares. The Goldman Sachs Group raised shares of Baker Hughes from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, August 17th. Piper Sandler boosted their price target on shares of Baker Hughes from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, September 9th. Seaport Res Ptn reissued a “buy” rating on shares of Baker Hughes in a research note on Thursday, July 15th. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Baker Hughes in a research note on Thursday, September 9th.

In related news, EVP Maria C. Borras sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 28th. The shares were sold at an average price of $20.74, for a total transaction of $207,400.00. Following the transaction, the executive vice president now owns 88,274 shares in the company, valued at $1,830,802.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian Worrell sold 29,333 shares of the business’s stock in a transaction dated Thursday, October 21st. The shares were sold at an average price of $24.87, for a total transaction of $729,511.71. The disclosure for this sale can be found here. Insiders have sold 53,813,373 shares of company stock worth $1,257,098,926 in the last quarter. 0.29% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Prestige Wealth Management Group LLC grew its holdings in Baker Hughes by 11.1% in the second quarter. Prestige Wealth Management Group LLC now owns 4,976 shares of the company’s stock worth $113,000 after purchasing an additional 498 shares during the period. Global Retirement Partners LLC grew its holdings in Baker Hughes by 78.0% in the third quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $34,000 after purchasing an additional 596 shares during the period. CX Institutional grew its holdings in Baker Hughes by 56.3% in the second quarter. CX Institutional now owns 1,885 shares of the company’s stock worth $43,000 after purchasing an additional 679 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of Baker Hughes by 5.3% during the third quarter. Kestra Advisory Services LLC now owns 13,508 shares of the company’s stock valued at $334,000 after buying an additional 684 shares during the last quarter. Finally, Ethic Inc. grew its holdings in shares of Baker Hughes by 2.2% during the second quarter. Ethic Inc. now owns 32,369 shares of the company’s stock valued at $740,000 after buying an additional 694 shares during the last quarter. Institutional investors and hedge funds own 95.87% of the company’s stock.

NYSE:BKR traded up $0.53 during midday trading on Tuesday, hitting $25.69. The company had a trading volume of 13,005,848 shares, compared to its average volume of 8,483,939. Baker Hughes has a 52-week low of $13.36 and a 52-week high of $27.66. The stock’s fifty day moving average price is $23.62 and its 200-day moving average price is $22.96. The company has a market capitalization of $26.78 billion, a PE ratio of -863.00 and a beta of 1.76. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39.

Baker Hughes (NYSE:BKR) last posted its quarterly earnings results on Tuesday, October 19th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.05). The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.32 billion. Baker Hughes had a positive return on equity of 0.86% and a negative net margin of 0.18%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, research analysts forecast that Baker Hughes will post 0.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Tuesday, November 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Monday, November 1st. Baker Hughes’s dividend payout ratio is currently 122.03%.

Baker Hughes Company Profile

Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.

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Analyst Recommendations for Baker Hughes (NYSE:BKR)

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