Brokerages Set Baker Hughes (NASDAQ:BKR) PT at $49.11

Baker Hughes (NASDAQ:BKR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $49.11.

Several equities research analysts have issued reports on BKR shares. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada lowered their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Citigroup dropped their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler decreased their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Baker Hughes in the fourth quarter valued at $829,092,000. Nuveen LLC purchased a new position in Baker Hughes during the 1st quarter worth $404,385,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the 4th quarter worth $291,289,000. Pacer Advisors Inc. boosted its holdings in shares of Baker Hughes by 2,585.6% in the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock valued at $169,511,000 after acquiring an additional 3,713,301 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR traded up $0.75 during trading on Thursday, hitting $37.90. The company had a trading volume of 4,267,898 shares, compared to its average volume of 7,087,500. The firm has a market capitalization of $37.55 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock has a fifty day simple moving average of $37.44 and a two-hundred day simple moving average of $41.61. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.43%. Baker Hughes's dividend payout ratio is currently 31.40%.

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.