Baker Hughes (NASDAQ:BKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.06.

BKR has been the subject of several research analyst reports. Barclays upped their price target on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

Baker Hughes Stock Down 2.2 %

Shares of Baker Hughes stock opened at $44.62 on Tuesday. 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 has a 12-month low of $29.19 and a 12-month high of $49.40. The firm has a market capitalization of $44.18 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The stock’s fifty day moving average is $44.33 and its 200-day moving average is $40.31.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. Baker Hughes’s dividend payout ratio is 30.87%.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in BKR. Capital Research Global Investors lifted its stake in shares of Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock worth $1,135,744,000 after buying an additional 177,232 shares during the last quarter. Geode Capital Management LLC lifted its position in Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Norges Bank acquired a new position in Baker Hughes during the 4th quarter worth $829,092,000. FMR LLC boosted its holdings in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock valued at $473,880,000 after purchasing an additional 874,297 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.