Baker Hughes Company (NASDAQ:BKR) Receives $69.95 Average Target Price from Analysts

Baker Hughes Company (NASDAQ:BKR) has been given an average rating of “Moderate Buy” by the twenty-one research firms that are currently covering the stock, MarketBeat Ratings reports. Four 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 target price among brokerages that have updated their coverage on the stock in the last year is $69.9524.

BKR has been the subject of a number of research reports. HSBC lifted their price objective on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Barclays reduced their price target on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 16th. Citigroup boosted their price objective on Baker Hughes from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Jefferies Financial Group restated a “buy” rating on shares of Baker Hughes in a research note on Thursday, July 9th. Finally, Wolfe Research began coverage on shares of Baker Hughes in a report on Wednesday, July 8th. They issued an “outperform” rating and a $70.00 target price on the stock.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 181,411 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $58.43, for a total value of $10,599,844.73. Following the sale, the chief executive officer directly owned 703,444 shares in the company, valued at $41,102,232.92. This trade represents a 20.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $64.22, for a total transaction of $326,751.36. Following the completion of the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at approximately $1,027,327.34. The trade was a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 367,910 shares of company stock worth $22,420,797. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC lifted its stake in Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after acquiring an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC raised its holdings in shares of Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after acquiring an additional 172 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Baker Hughes by 10.5% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock worth $86,000 after acquiring an additional 179 shares in the last quarter. Krilogy Financial LLC grew its stake in Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock valued at $261,000 after purchasing an additional 180 shares in the last quarter. Finally, 3Chopt Investment Partners LLC increased its position in Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $62.75 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. The firm has a market cap of $62.29 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The business’s fifty day simple moving average is $59.08 and its 200-day simple moving average is $60.65. Baker Hughes has a 52 week low of $41.96 and a 52 week high of $70.41.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Sunday, July 26th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.46 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio is currently 29.68%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.