Brokerages Set Baker Hughes Company (NASDAQ:BKR) Price Target at $53.92

by · The Cerbat Gem

Shares of Baker Hughes Company (NASDAQ:BKR – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-six research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $53.9167.

A number of equities research analysts have weighed in on BKR shares. Zephirin Group lifted their price target on shares of Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Cowen reaffirmed a “buy” rating on shares of Baker Hughes in a research report on Monday, October 27th. Capital One Financial lifted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Evercore ISI set a $54.00 price target on Baker Hughes in a research note on Monday, October 27th. Finally, BMO Capital Markets lifted their price objective on Baker Hughes from $53.00 to $55.00 in a research note on Tuesday, November 11th.

View Our Latest Report on BKR

Institutional Trading of Baker Hughes

Hedge funds have recently made changes to their positions in the business. Cresset Asset Management LLC increased its stake in Baker Hughes by 51.5% during the 1st quarter. Cresset Asset Management LLC now owns 11,309 shares of the company’s stock worth $497,000 after buying an additional 3,845 shares during the period. Wellington Management Group LLP grew its stake in shares of Baker Hughes by 11.2% in the first quarter. Wellington Management Group LLP now owns 506,774 shares of the company’s stock worth $22,273,000 after acquiring an additional 51,060 shares in the last quarter. Compound Planning Inc. increased its position in shares of Baker Hughes by 19.9% during the first quarter. Compound Planning Inc. now owns 26,603 shares of the company’s stock worth $1,169,000 after acquiring an additional 4,422 shares during the period. Kestra Advisory Services LLC increased its position in shares of Baker Hughes by 68.1% during the first quarter. Kestra Advisory Services LLC now owns 64,345 shares of the company’s stock worth $2,828,000 after acquiring an additional 26,064 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Baker Hughes by 1,566.9% in the first quarter. AlphaQuest LLC now owns 28,988 shares of the company’s stock valued at $1,274,000 after acquiring an additional 27,249 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $45.54 on Monday. Baker Hughes has a 52 week low of $33.60 and a 52 week high of $51.12. The stock’s fifty day moving average is $47.68 and its two-hundred day moving average is $44.96. The company has a market capitalization of $44.94 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.64 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%. Equities analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Baker Hughes Company Profile

(Get Free Report)

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.

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