Baker Hughes (NASDAQ:BKR) Upgraded at Argus

Argus upgraded shares of Baker Hughes (NASDAQ:BKR) from a hold rating to a buy rating in a research note released on Friday, MarketBeat reports.

Several other brokerages also recently weighed in on BKR. Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group reduced their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Piper Sandler dropped their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Trading Up 2.0 %

Shares of BKR opened at $37.52 on Friday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The stock’s 50-day moving average is $35.70 and its two-hundred day moving average is $34.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a market cap of $37.44 billion, a PE ratio of 20.96, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Equities analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.24%. Baker Hughes’s payout ratio is 46.93%.

Insiders Place Their Bets

In other Baker Hughes 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 owns 616,339 shares of the company’s stock, valued at $23,759,868.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Legal & General Group Plc grew its holdings in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after buying an additional 692,859 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares during the period. Clearbridge Investments LLC increased its position in Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares during the period. Finally, Intermede Investment Partners Ltd raised its stake in Baker Hughes by 16.5% during the 1st quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company’s stock valued at $143,526,000 after acquiring an additional 606,671 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

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.