Baker Hughes Company (NASDAQ:BKR) Given Average Recommendation of "Moderate Buy" by Brokerages

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Baker Hughes Company (NASDAQ:BKR - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-one research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $51.4737.

Several brokerages recently commented on BKR. Piper Sandler reduced their price objective on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Industrial Alliance Securities set a $53.00 target price on shares of Baker Hughes in a research report on Wednesday, July 30th. Royal Bank Of Canada cut their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its stake in Baker Hughes by 9.4% during the second quarter. Geneos Wealth Management Inc. now owns 106,512 shares of the company's stock worth $4,084,000 after buying an additional 9,143 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Baker Hughes by 13.3% during the second quarter. Westwood Holdings Group Inc. now owns 13,771 shares of the company's stock worth $528,000 after purchasing an additional 1,612 shares in the last quarter. Castleark Management LLC lifted its position in shares of Baker Hughes by 39.9% during the second quarter. Castleark Management LLC now owns 53,080 shares of the company's stock worth $2,035,000 after purchasing an additional 15,150 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Baker Hughes during the second quarter worth $99,000. Finally, Evergreen Capital Management LLC lifted its position in shares of Baker Hughes by 7.9% during the second quarter. Evergreen Capital Management LLC now owns 9,316 shares of the company's stock worth $357,000 after purchasing an additional 684 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.2%

Shares of NASDAQ:BKR opened at $42.87 on Tuesday. The company has a market cap of $42.26 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.95 and a beta of 0.94. The firm's 50-day simple moving average is $40.99 and its 200-day simple moving average is $40.78. 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 has a fifty-two week low of $32.25 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter last year, the business earned $0.57 earnings per share. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Baker Hughes's payout ratio is currently 30.07%.

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.

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