Baker Hughes (NYSE:BKR) Upgraded to “Positive” by Susquehanna Bancshares

Susquehanna Bancshares upgraded shares of Baker Hughes (NYSE:BKR) from a neutral rating to a positive rating in a research note issued to investors on Friday, Briefing.com Automated Import reports.

A number of other equities research analysts also recently issued reports on the company. Barclays restated a buy rating and set a $28.00 price target on shares of Baker Hughes in a research note on Friday, November 1st. Zacks Investment Research downgraded Baker Hughes from a hold rating to a strong sell rating in a research note on Friday, November 8th. TheStreet downgraded Baker Hughes from a c- rating to a d rating in a research note on Monday, October 21st. Finally, ValuEngine downgraded Baker Hughes from a hold rating to a sell rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $28.00.

NYSE:BKR traded up $0.80 during mid-day trading on Friday, reaching $22.69. The company’s stock had a trading volume of 3,826,539 shares, compared to its average volume of 5,216,745. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 3.13 and a beta of 0.98. Baker Hughes has a 12-month low of $20.09 and a 12-month high of $28.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.58.

Baker Hughes (NYSE:BKR) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $6.11 billion. Baker Hughes had a net margin of 0.89% and a return on equity of 1.19%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. As a group, research analysts predict that Baker Hughes will post 0.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. Baker Hughes’s dividend payout ratio is currently 109.09%.

Several institutional investors have recently added to or reduced their stakes in BKR. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $64,560,000. Poplar Forest Capital LLC bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $40,367,000. Eagle Asset Management Inc. bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $38,260,000. Carillon Tower Advisers Inc. bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $30,230,000. Finally, California Public Employees Retirement System bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $23,149,000. Institutional investors and hedge funds own 48.96% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.

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