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

Shares of Baker Hughes (NASDAQ:BKR) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.56.

BKR has been the subject of a number of research reports. Susquehanna lifted their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. TD Cowen raised their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Stifel Nicolaus raised their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Morgan Stanley boosted their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $37.93 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $35.31 and a two-hundred day simple moving average of $34.02. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The firm has a market cap of $37.85 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 1st. The stock was 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 of the company’s stock, valued at $23,759,868.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes in the first quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter valued at $48,000. Finally, UMB Bank n.a. raised its position in Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after purchasing an additional 1,167 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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.