Zacks Investment Research upgraded shares of Baker Hughes (NYSE:BHGE) from a strong sell rating to a hold rating in a research note released on Monday, November 13th.
According to Zacks, “Baker Hughes, a GE Company is a provider of integrated oilfield products, services and digital solutions. Baker Hughes a GE Company, formerly known as Baker Hughes, is based in Houston, United States. “
A number of other equities research analysts have also issued reports on the stock. Morgan Stanley restated an overweight rating and issued a $60.00 target price on shares of Baker Hughes in a research note on Monday, July 17th. Goldman Sachs Group reiterated a sell rating and set a $37.00 price objective on shares of Baker Hughes in a research note on Tuesday, July 18th. Scotiabank set a $44.00 price objective on shares of Baker Hughes and gave the stock a hold rating in a research note on Saturday, October 21st. Citigroup dropped their price objective on shares of Baker Hughes from $44.00 to $41.00 and set a buy rating on the stock in a research note on Wednesday, October 25th. Finally, Seaport Global Securities restated a neutral rating on shares of Baker Hughes in a research note on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $40.74.
Baker Hughes (NYSE:BHGE) last posted its quarterly earnings data on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The firm had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. Baker Hughes’s quarterly revenue was up 77.7% on a year-over-year basis. sell-side analysts expect that Baker Hughes will post 0.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were given a $0.18 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. Baker Hughes’s dividend payout ratio is presently -111.34%.
In related news, insider Matthias L. Heilmann bought 1,500 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was bought at an average price of $30.04 per share, for a total transaction of $45,060.00. Following the transaction, the insider now directly owns 3,500 shares in the company, valued at $105,140. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BHGE. New Mexico Educational Retirement Board acquired a new stake in Baker Hughes in the 2nd quarter worth $1,461,000. South Dakota Investment Council acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at about $4,610,000. Tudor Investment Corp ET AL acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at about $959,000. FTB Advisors Inc. acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at about $442,000. Finally, Fairpointe Capital LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 89.52% of the company’s stock.
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