Baker Hughes (NASDAQ:BKR – Get Rating) – Stock analysts at Atb Cap Markets decreased their Q1 2023 earnings per share estimates for shares of Baker Hughes in a note issued to investors on Monday, January 23rd. Atb Cap Markets analyst W. Syed now expects that the company will post earnings per share of $0.25 for the quarter, down from their prior estimate of $0.30. The consensus estimate for Baker Hughes’ current full-year earnings is $0.93 per share. Atb Cap Markets also issued estimates for Baker Hughes’ Q3 2023 earnings at $0.39 EPS, Q4 2023 earnings at $0.56 EPS, FY2023 earnings at $1.46 EPS, Q1 2024 earnings at $0.38 EPS, Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.48 EPS, Q4 2024 earnings at $0.60 EPS, FY2024 earnings at $1.89 EPS and FY2025 earnings at $2.20 EPS.
BKR has been the topic of several other research reports. Jefferies Financial Group assumed coverage on Baker Hughes in a report on Wednesday, October 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada dropped their price objective on Baker Hughes from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Susquehanna lifted their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the stock a “positive” rating in a research note on Tuesday. Bank of America raised their price target on shares of Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 20th. Finally, Benchmark initiated coverage on shares of Baker Hughes in a research report on Thursday, January 19th. They issued a “buy” rating and a $36.00 price objective on the stock. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $35.44.
Baker Hughes Price Performance
Baker Hughes (NASDAQ:BKR – Get Rating) last posted its quarterly earnings results on Monday, January 23rd. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same period last year, the business posted $0.25 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year.
Baker Hughes Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.18. Baker Hughes’s payout ratio is currently -165.22%.
Insider Activity at Baker Hughes
In other Baker Hughes news, EVP Neil Saunders sold 118,492 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $30.64, for a total value of $3,630,594.88. Following the sale, the executive vice president now owns 54,417 shares in the company, valued at $1,667,336.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Baker Hughes news, EVP Neil Saunders sold 118,492 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $30.64, for a total value of $3,630,594.88. Following the sale, the executive vice president now owns 54,417 shares in the company, valued at $1,667,336.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory D. Brenneman sold 85,000 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the completion of the sale, the director now owns 16,842 shares in the company, valued at approximately $525,975.66. The disclosure for this sale can be found here. Insiders have sold 285,303 shares of company stock worth $8,816,980 over the last 90 days. 0.34% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in BKR. JPMorgan Chase & Co. lifted its stake in shares of Baker Hughes by 96.8% in the second quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company’s stock worth $1,093,660,000 after buying an additional 18,629,874 shares in the last quarter. FMR LLC lifted its stake in shares of Baker Hughes by 41.2% in the second quarter. FMR LLC now owns 26,877,366 shares of the company’s stock worth $775,950,000 after buying an additional 7,836,906 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Baker Hughes by 214.6% in the second quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company’s stock worth $300,193,000 after buying an additional 7,092,424 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Baker Hughes by 5.7% in the third quarter. Vanguard Group Inc. now owns 119,365,664 shares of the company’s stock worth $2,501,905,000 after buying an additional 6,456,576 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Baker Hughes by 443.0% in the third quarter. Ceredex Value Advisors LLC now owns 5,931,026 shares of the company’s stock worth $124,314,000 after buying an additional 4,838,736 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.
About Baker Hughes
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.
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