Recent Investment Analysts’ Ratings Changes for Baker Hughes (BKR)

A number of research firms have changed their ratings and price targets for Baker Hughes (NASDAQ: BKR):

• 7/29/2024 – Baker Hughes had its price target raised by analysts at Susquehanna from $40.00 to $46.00. They now have a “positive” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at JPMorgan Chase & Co. from $42.00 to $43.00. They now have an “overweight” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at Evercore ISI from $42.00 to $46.00. They now have an “outperform” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at Royal Bank of Canada from $39.00 to $43.00. They now have an “outperform” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at Wells Fargo & Company from $35.00 to $40.00. They now have an “equal weight” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at The Goldman Sachs Group, Inc. from $39.00 to $43.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at Jefferies Financial Group Inc. from $46.00 to $48.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at TD Cowen from $46.00 to $50.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Baker Hughes had its price target raised by analysts at Stifel Nicolaus from $40.00 to $45.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Baker Hughes had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $40.00 price target on the stock.
• 7/15/2024 – Baker Hughes had its price target lowered by analysts at Piper Sandler from $45.00 to $44.00. They now have an “overweight” rating on the stock.
• 7/15/2024 – Baker Hughes had its price target lowered by analysts at Bank of America Co. from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 6/28/2024 – Baker Hughes had its price target raised by analysts at Jefferies Financial Group Inc. from $45.00 to $46.00. They now have a “buy” rating on the stock.

Baker Hughes Trading Down 0.9 %

Baker Hughes stock opened at $34.21 on Wednesday. The firm’s 50-day moving average is $34.24 and its 200-day moving average is $32.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a market cap of $33.98 billion, a P/E ratio of 19.11, a PEG ratio of 0.61 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts expect that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.46%. Baker Hughes’s payout ratio is currently 46.93%.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the transaction, the chief executive officer now directly owns 616,339 shares in the company, valued at approximately $23,759,868.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares in the company, valued at $23,759,868.45. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Baker Hughes by 5.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 178,519 shares of the company’s stock worth $6,102,000 after buying an additional 8,690 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of Baker Hughes by 13.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 9,918 shares of the company’s stock worth $339,000 after buying an additional 1,138 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Baker Hughes by 2.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 56,774 shares of the company’s stock worth $1,941,000 after buying an additional 1,116 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Baker Hughes by 106.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 11,755 shares of the company’s stock worth $402,000 after buying an additional 6,062 shares in the last quarter. Finally, Custom Index Systems LLC bought a new stake in shares of Baker Hughes during the 4th quarter worth about $286,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.