Baker Hughes Company (NASDAQ:BKR) Stock Rated “Moderate Buy” by Sell-Side Analysts

Baker Hughes Company (NASDAQ:BKR) has been assigned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $72.10.

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on Baker Hughes from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Susquehanna boosted their price objective on shares of Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, September 10th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price objective on shares of Baker Hughes in a report on Tuesday, September 29th. Finally, TD Cowen cut their target price on Baker Hughes from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, September 29th.

Baker Hughes Trading Down 4.3%

Baker Hughes stock opened at $53.62 on Friday. The stock has a market cap of $53.23 billion, a PE ratio of 20.90, a P/E/G ratio of 2.67 and a beta of 1.04. The stock has a 50-day moving average price of $59.12 and a 200 day moving average price of $60.64. Baker Hughes has a 52 week low of $44.26 and a 52 week high of $70.41. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts predict that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in the company. Amundi raised its holdings in Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after buying an additional 2,409,978 shares during the period. Advent International L.P. purchased a new position in shares of Baker Hughes during the 1st quarter valued at approximately $72,309,000. Assenagon Asset Management S.A. grew its holdings in Baker Hughes by 1,289.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock worth $72,630,000 after acquiring an additional 1,123,391 shares in the last quarter. Perpetual Ltd grew its position in shares of Baker Hughes by 24.0% in the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after acquiring an additional 765,582 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Baker Hughes during the first quarter worth $44,328,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.