Baker Hughes (NASDAQ:BKR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $44.12.

A number of analysts have recently commented on BKR shares. Morgan Stanley boosted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday. Bank of America lowered their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Barclays increased their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several institutional investors and hedge funds have recently modified their holdings of BKR. Pinnacle Associates Ltd. increased its position in Baker Hughes by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 174,889 shares of the company’s stock worth $5,978,000 after purchasing an additional 5,696 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after buying an additional 398 shares in the last quarter. Adams Natural Resources Fund Inc. lifted its stake in shares of Baker Hughes by 34.5% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 398,800 shares of the company’s stock valued at $14,417,000 after acquiring an additional 102,400 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Baker Hughes during the 3rd quarter valued at $8,311,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Baker Hughes by 110.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,601 shares of the company’s stock worth $456,000 after acquiring an additional 6,601 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

NASDAQ BKR opened at $37.52 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. The business has a 50 day simple moving average of $35.70 and a 200 day simple moving average of $34.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (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 the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

About Baker Hughes

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.