Baker Hughes (NASDAQ:BKR) Given Consensus Rating of “Moderate Buy” by Analysts

Baker Hughes (NASDAQ:BKR) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $47.18.

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler initiated coverage on Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price on the stock. Barclays boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Graypoint LLC increased its position in shares of Baker Hughes by 4.2% during the fourth quarter. Graypoint LLC now owns 10,717 shares of the company’s stock valued at $440,000 after acquiring an additional 429 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Baker Hughes by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 22,200 shares of the company’s stock worth $911,000 after purchasing an additional 545 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Baker Hughes by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 40,525 shares of the company’s stock valued at $1,662,000 after purchasing an additional 475 shares during the last quarter. First Hawaiian Bank raised its position in Baker Hughes by 7.9% in the fourth quarter. First Hawaiian Bank now owns 94,163 shares of the company’s stock valued at $3,863,000 after purchasing an additional 6,891 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Baker Hughes by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 1,810,915 shares of the company’s stock worth $74,592,000 after purchasing an additional 83,266 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.4 %

Baker Hughes stock opened at $43.26 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock has a market capitalization of $42.81 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The business has a 50 day simple moving average of $42.28 and a 200-day simple moving average of $37.95. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Baker Hughes Company Profile

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.