Baker Hughes Company (NASDAQ:BKR) Receives $70.67 Average Target Price from Brokerages

Shares of Baker Hughes Company (NASDAQ:BKR) have earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $70.6667.

Several research firms have commented on BKR. Capital One Financial increased their price objective on shares of Baker Hughes from $66.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Weiss Ratings downgraded Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 13th. Susquehanna increased their price target on Baker Hughes from $70.00 to $72.00 and gave the company a “positive” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada raised their price target on Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Finally, TD Cowen lifted their price objective on Baker Hughes from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th.

Baker Hughes Stock Up 1.8%

NASDAQ BKR opened at $63.55 on Friday. Baker Hughes has a 12 month low of $43.92 and a 12 month high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The stock has a market cap of $63.08 billion, a PE ratio of 20.50, a P/E/G ratio of 1.94 and a beta of 0.97. The stock’s 50 day moving average is $59.35 and its 200 day moving average is $61.49.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Sunday, July 26th. The company reported $0.64 earnings per share (EPS) 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 business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Research analysts predict that Baker Hughes will post 2.51 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, August 7th. Baker Hughes’s dividend payout ratio is currently 29.68%.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 181,411 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, the chief executive officer owned 703,444 shares in the company, valued at approximately $41,102,232.92. The trade was a 20.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction 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 sale, the chief accounting officer directly owned 15,997 shares in the company, valued at approximately $1,027,327.34. The trade was a 24.13% 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. Over the last three months, insiders sold 367,910 shares of company stock valued at $22,420,797. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Several hedge funds have recently made changes to their positions in the business. Woodline Partners LP raised its position in Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the period. Focus Partners Wealth increased its position in shares of Baker Hughes by 5.6% during the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock valued at $812,000 after purchasing an additional 986 shares during the last quarter. Jump Financial LLC purchased a new stake in Baker Hughes during the 2nd quarter valued at $2,301,000. NewEdge Advisors LLC raised its holdings in Baker Hughes by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after buying an additional 1,768 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in Baker Hughes in the second quarter worth $1,014,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.