Baker Hughes (NASDAQ:BKR) Sets New 1-Year High – Here’s Why

Shares of Baker Hughes (NASDAQ:BKR) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $47.60 and last traded at $46.18, with a volume of 21163280 shares. The stock had previously closed at $44.60.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BKR. Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Barclays boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.06.

Baker Hughes Trading Up 3.5 %

The company has a market cap of $45.70 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $43.03 and a 200-day simple moving average of $39.10.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. On average, analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 37.67%.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s 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 $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently added to or reduced their stakes in BKR. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after acquiring an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after purchasing an additional 22,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after purchasing an additional 45,324 shares during the last quarter. Institutional investors and hedge funds 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.