Baker Hughes (NASDAQ:BKR) Stock Breaks Above 50 Day Moving Average – Here’s Why

Shares of Baker Hughes Company (NASDAQ:BKR) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $58.68 and traded as high as $59.09. Baker Hughes shares last traded at $59.00, with a volume of 13,194,997 shares trading hands.

Key Baker Hughes News

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Quarterly results exceeded expectations. Baker Hughes reported adjusted earnings of $0.70 per share, above consensus estimates ranging from $0.60 to $0.63 and up from $0.68 a year earlier. Revenue reached approximately $8.03 billion, surpassing the $7.75 billion FactSet estimate. Baker Hughes Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Strong bookings and backlog support future growth. Third-quarter orders totaled $10.8 billion, including $5.9 billion in Industrial & Energy Technology orders. Total remaining performance obligations rose to $46.4 billion, with a record $39.4 billion in IET backlog, providing substantial future revenue visibility. Baker Hughes Announces Third-Quarter 2026 Results
• Positive Sentiment: AI data-center demand created a sizable new opportunity. A major U.S. technology company selected Baker Hughes’ power-generation and cooling solutions for high-density AI computing. The integrated order is expected to provide approximately 1.1 gigawatts of power and includes turbines, generators, gearboxes and Chart dry-cooling equipment. Baker Hughes AI Computing Order
• Positive Sentiment: Shareholder returns remain supported by the dividend. Baker Hughes declared a quarterly dividend of $0.23 per share, payable November 20 to shareholders of record November 10. Baker Hughes Declares Quarterly Dividend
• Negative Sentiment: GAAP profitability declined year over year. Reported third-quarter profit fell to $411 million, or $0.41 per share, from $609 million, or $0.61 per share, a year earlier. This decline could limit enthusiasm despite the adjusted earnings and revenue beats. Baker Hughes Reports Lower Third-Quarter Profit

Analyst Ratings Changes

BKR has been the subject of a number of recent research reports. UBS Group dropped their target price on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Stifel Nicolaus upped their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Baker Hughes in a research note on Friday, October 9th. Finally, Piper Sandler increased their target price on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

Baker Hughes Price Performance

The stock’s 50 day simple moving average is $58.68 and its 200 day simple moving average is $59.97.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.75 billion. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts anticipate that Baker Hughes Company will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, November 10th.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi raised its holdings in shares of Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after acquiring an additional 2,409,978 shares in the last quarter. First Trust Advisors LP lifted its stake in Baker Hughes by 4.0% in the first quarter. First Trust Advisors LP now owns 9,663,737 shares of the company’s stock worth $589,971,000 after acquiring an additional 374,974 shares during the period. Bank of New York Mellon Corp lifted its stake in Baker Hughes by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company’s stock worth $411,391,000 after acquiring an additional 119,388 shares during the period. Perpetual Ltd grew its holdings in Baker Hughes by 24.0% during the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after acquiring an additional 765,582 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Baker Hughes by 5.1% during the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company’s stock worth $234,287,000 after acquiring an additional 184,897 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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.