Baker Hughes (NASDAQ:BKR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have been assigned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $44.12.

A number of research firms have commented on BKR. Citigroup reduced their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Barclays raised their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th.

Baker Hughes Price Performance

Shares of BKR stock opened at $37.09 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market capitalization of $37.02 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The firm’s 50-day moving average is $35.80 and its two-hundred day moving average is $34.44. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its stake in shares of Baker Hughes by 19.1% during the first quarter. Park Avenue Securities LLC now owns 28,942 shares of the company’s stock worth $970,000 after buying an additional 4,636 shares during the period. Viking Fund Management LLC grew its holdings in Baker Hughes by 273.3% during the 1st quarter. Viking Fund Management LLC now owns 112,000 shares of the company’s stock worth $3,752,000 after acquiring an additional 82,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Baker Hughes by 8.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after purchasing an additional 1,829 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 19.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock valued at $740,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Baker Hughes during the 1st quarter worth $5,611,000. Hedge funds and other 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.