Baker Hughes (NASDAQ:BKR) Sets New 52-Week High – Time to Buy?

Baker Hughes Company (NASDAQ:BKR) shares reached a new 52-week high on Monday . The stock traded as high as $50.92 and last traded at $50.4730, with a volume of 1098825 shares. The stock had previously closed at $50.20.

Analyst Ratings Changes

BKR has been the topic of a number of recent analyst reports. HSBC upped their target price on shares of Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, October 27th. UBS Group upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Melius initiated coverage on Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 target price for the company. Evercore ISI set a $54.00 price target on shares of Baker Hughes in a report on Monday, October 27th. Finally, Piper Sandler boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Baker Hughes Stock Performance

The stock has a market cap of $49.80 billion, a P/E ratio of 17.40, a PEG ratio of 1.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The company has a fifty day moving average of $48.03 and a 200 day moving average of $43.91.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. On average, equities analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Insider Activity at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Forum Financial Management LP boosted its holdings in shares of Baker Hughes by 1.4% in the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after buying an additional 233 shares during the period. AMG National Trust Bank raised its holdings in shares of Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after acquiring an additional 246 shares during the period. Linden Thomas Advisory Services LLC lifted its position in shares of Baker Hughes by 1.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock valued at $959,000 after acquiring an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Baker Hughes by 4.4% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock worth $306,000 after purchasing an additional 264 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in Baker Hughes by 23.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.