Baker Hughes (NASDAQ:BKR) Reaches New 1-Year High – Here’s Why
by Scott Moore · The Cerbat GemShares of Baker Hughes Company (NASDAQ:BKR – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $53.43 and last traded at $52.9160, with a volume of 2109637 shares. The stock had previously closed at $51.26.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on BKR shares. Bank of America upped their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. TD Cowen reissued a “buy” rating on shares of Baker Hughes in a report on Wednesday, January 7th. Jefferies Financial Group raised their price objective on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Barclays boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, UBS Group raised their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Twenty-one investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.00.
Check Out Our Latest Report on BKR
Baker Hughes Trading Down 0.9%
The stock has a market cap of $53.23 billion, a PE ratio of 18.60, a PEG ratio of 1.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a fifty day moving average price of $48.36 and a 200 day moving average price of $46.41.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.Baker Hughes’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. Equities analysts expect that Baker Hughes Company will post 2.59 EPS for the current year.
Hedge Funds Weigh In On Baker Hughes
A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in Baker Hughes by 18.2% in the 4th quarter. Farther Finance Advisors LLC now owns 11,404 shares of the company’s stock valued at $519,000 after acquiring an additional 1,760 shares during the last quarter. Patton Fund Management Inc. increased its stake in Baker Hughes by 1,153.8% in the 4th quarter. Patton Fund Management Inc. now owns 75,769 shares of the company’s stock worth $3,451,000 after buying an additional 69,726 shares during the period. Webster Bank N. A. increased its stake in Baker Hughes by 7.2% in the 4th quarter. Webster Bank N. A. now owns 75,558 shares of the company’s stock worth $3,441,000 after buying an additional 5,077 shares during the period. Transcend Capital Advisors LLC bought a new stake in Baker Hughes during the 4th quarter valued at about $305,000. Finally, Tectonic Advisors LLC boosted its position in Baker Hughes by 6.8% in the 4th quarter. Tectonic Advisors LLC now owns 12,878 shares of the company’s stock valued at $586,000 after buying an additional 823 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Baker Hughes Company Profile
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.