Baker Hughes (NASDAQ:BKR) Given Consensus Rating of “Moderate Buy” by Analysts

Baker Hughes (NASDAQ:BKR) has been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $44.59.

Several analysts have commented on the stock. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Citigroup boosted their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its holdings in Baker Hughes by 27.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company’s stock worth $1,039,000 after acquiring an additional 6,604 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Baker Hughes by 31.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 743,238 shares of the company’s stock valued at $24,885,000 after purchasing an additional 178,881 shares during the period. Edgestream Partners L.P. raised its position in Baker Hughes by 126.6% during the 1st quarter. Edgestream Partners L.P. now owns 34,578 shares of the company’s stock valued at $1,158,000 after purchasing an additional 19,320 shares during the last quarter. Rockport Wealth LLC purchased a new stake in Baker Hughes in the 1st quarter worth approximately $867,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Baker Hughes by 26.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,566 shares of the company’s stock worth $1,660,000 after buying an additional 10,278 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $42.94 on Friday. The business’s fifty day simple moving average is $37.48 and its 200 day simple moving average is $35.21. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The firm has a market capitalization of $42.49 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.96%. Baker Hughes’s payout ratio is currently 37.67%.

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.