Baker Hughes (NASDAQ:BKR) Hits New 1-Year High – What’s Next?

Baker Hughes (NASDAQ:BKR) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.18 and last traded at $45.02, with a volume of 539672 shares trading hands. The stock had previously closed at $44.83.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKR. UBS Group decreased their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada upped their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Bank of America lifted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus lifted their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

Baker Hughes Price Performance

The company has a market capitalization of $45.24 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.79 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 firm’s 50-day moving average is $42.54 and its 200-day moving average is $38.14.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

Institutional Trading of Baker Hughes

Several hedge funds have recently added to or reduced their stakes in the business. Moors & Cabot Inc. lifted its stake in shares of Baker Hughes by 20.1% in the 2nd quarter. Moors & Cabot Inc. now owns 56,437 shares of the company’s stock valued at $1,985,000 after acquiring an additional 9,456 shares during the last quarter. Meiji Yasuda Life Insurance Co bought a new stake in Baker Hughes in the second quarter valued at approximately $830,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in Baker Hughes by 225.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 50,160 shares of the company’s stock valued at $1,764,000 after purchasing an additional 34,728 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Baker Hughes by 8.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,822 shares of the company’s stock valued at $2,914,000 after purchasing an additional 6,496 shares during the period. Finally, Sienna Gestion bought a new position in shares of Baker Hughes in the second quarter worth approximately $9,449,000. 92.06% of the stock is owned by institutional investors.

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.