Brokerages Set Baker Hughes Company (NASDAQ:BKR) PT at $54.04

Baker Hughes Company (NASDAQ:BKR) has been assigned a consensus rating of “Moderate Buy” from the twenty-six analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $54.0417.

Several equities analysts have recently weighed in on BKR shares. Susquehanna raised their price target on shares of Baker Hughes from $56.00 to $58.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Piper Sandler raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Barclays upped their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Finally, Stifel Nicolaus raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 27th.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in BKR. Activest Wealth Management raised its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares in the last quarter. Harbour Investments Inc. increased its stake in Baker Hughes by 61.7% during the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after purchasing an additional 326 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in shares of Baker Hughes during the second quarter worth about $36,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $51.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes has a 1 year low of $33.60 and a 1 year high of $52.33. The firm has a market capitalization of $51.10 billion, a PE ratio of 17.86, a P/E/G ratio of 1.64 and a beta of 0.89. The business’s 50 day moving average price is $47.99 and its 200-day moving average price is $46.14.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.8%. Baker Hughes’s payout ratio is 31.72%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.