Baker Hughes Company (BKR) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts remain broadly positive on Baker Hughes: Twenty-one analysts give the stock a consensus “Moderate Buy” rating, including 16 buys and two strong buys. The average 12-month price target is $72.24 versus the reported share price of $55.70.
• Baker Hughes exceeded quarterly expectations, reporting $0.64 in EPS versus the $0.51 consensus and revenue of $6.74 billion versus estimates of $6.54 billion. Analysts forecast full-year EPS of $2.58.
• The company pays a quarterly dividend of $0.23 per share, equal to an annualized $0.92 and a 1.7% yield. Institutional investors own approximately 92.06% of the stock.

Baker Hughes Company (NASDAQ:BKR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $72.24.

A number of equities research analysts have recently issued reports on the company. Wolfe Research initiated coverage on Baker Hughes in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $70.00 target price for the company. Zacks Research upgraded Baker Hughes from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 16th. UBS Group reduced their price target on Baker Hughes from $72.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. Susquehanna upped their price target on Baker Hughes from $72.00 to $75.00 and gave the stock a "positive" rating in a report on Thursday, September 10th. Finally, Morgan Stanley began coverage on Baker Hughes in a report on Friday, August 7th. They issued an "overweight" rating and a $70.00 price target for the company.

Baker Hughes Stock Up 2.4%

Shares of Baker Hughes stock opened at $55.70 on Friday. Baker Hughes has a twelve month low of $44.26 and a twelve month high of $70.41. The stock has a market cap of $55.29 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.65 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $59.83 and a 200 day moving average price of $60.79.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The firm's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Equities research analysts forecast that Baker Hughes will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.7%. Baker Hughes's dividend payout ratio (DPR) is currently 29.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BKR. SteelPeak Wealth LLC purchased a new stake in Baker Hughes during the 3rd quarter worth $288,000. IFP Advisors Inc lifted its holdings in Baker Hughes by 6.3% in the 3rd quarter. IFP Advisors Inc now owns 17,858 shares of the company's stock worth $980,000 after buying an additional 1,056 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in Baker Hughes by 59.7% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 9,598 shares of the company's stock valued at $527,000 after buying an additional 3,587 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Baker Hughes in the 3rd quarter valued at about $245,000. Finally, Align Financial LLC purchased a new position in Baker Hughes in the 3rd quarter valued at about $77,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

About Baker Hughes

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.

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