Baker Hughes (NASDAQ:BKR) Sets New 12-Month High – Time to Buy?

Shares of Baker Hughes (NASDAQ:BKR) reached a new 52-week high on Thursday . The company traded as high as $44.93 and last traded at $44.93, with a volume of 3140 shares trading hands. The stock had previously closed at $44.31.

Analyst Ratings Changes

A number of research firms have recently weighed in on BKR. Stifel Nicolaus lifted their price objective on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Barclays lifted their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. UBS Group lowered their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Stock Up 0.8 %

The business has a 50 day moving average of $38.09 and a two-hundred day moving average of $35.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a market capitalization of $44.19 billion, a PE ratio of 19.87, a PEG ratio of 0.72 and a beta of 1.38.

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

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently modified their holdings of BKR. Geode Capital Management LLC increased its holdings in shares of Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $581,729,000 after acquiring an additional 4,207,973 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Baker Hughes by 1.5% in 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 valued at $348,233,000 after acquiring an additional 145,537 shares during the last quarter. Institutional investors and hedge funds 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.