Baker Hughes (NASDAQ:BKR) Hits New 1-Year High – What’s Next?

Baker Hughes (NASDAQ:BKR)’s stock price hit a new 52-week high on Friday . The company traded as high as $49.40 and last traded at $46.98, with a volume of 9234297 shares changing hands. The stock had previously closed at $48.85.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler raised their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday. Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BMO Capital Markets raised their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.18.

Baker Hughes Stock Performance

The company’s 50-day simple moving average is $43.30 and its 200-day simple moving average is $39.35. The stock has a market cap of $46.49 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Analysts predict that Baker Hughes will post 2.55 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Sanctuary Advisors LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at $1,505,000. Park Avenue Securities LLC raised its stake in shares of Baker Hughes by 6.0% during the 3rd quarter. Park Avenue Securities LLC now owns 26,703 shares of the company’s stock worth $965,000 after purchasing an additional 1,501 shares in the last quarter. Czech National Bank grew its stake in shares of Baker Hughes by 6.4% in the 3rd quarter. Czech National Bank now owns 202,371 shares of the company’s stock valued at $7,316,000 after buying an additional 12,192 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Baker Hughes by 42.9% in the 3rd quarter. GAMMA Investing LLC now owns 7,288 shares of the company’s stock valued at $263,000 after buying an additional 2,187 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in Baker Hughes in the third quarter worth approximately $279,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.