Baker Hughes (NASDAQ:BKR) Receives Average Rating of “Moderate Buy” from Analysts

Baker Hughes (NASDAQ:BKR) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $47.12.

BKR has been the topic of a number of recent research reports. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Benchmark reaffirmed a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Piper Sandler initiated coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. Bank of America boosted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd.

Baker Hughes Price Performance

Shares of BKR opened at $42.66 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The stock has a market capitalization of $42.21 billion, a P/E ratio of 19.13, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a 50 day moving average of $41.71 and a 200-day moving average of $37.67.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is 37.67%.

Institutional Trading of Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Geode Capital Management LLC raised its position in shares of Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after buying an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 7.4% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. Institutional investors own 92.06% of the company’s stock.

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.