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

Key Points

• Baker Hughes holds a “Moderate Buy” consensus rating among 21 analysts, with 17 buys, three holds and one strong buy. The average 12-month price target is $71.81, above the reported share price of $57.26.
• Institutional investors own 92.06% of the company, with several major holders increasing their positions, including Cardano Risk Management, Capital International Investors and Amundi.
• Baker Hughes exceeded quarterly expectations with adjusted earnings of $0.64 per share versus the $0.51 consensus and revenue of $6.74 billion. The company also pays a quarterly dividend of $0.23 per share, equivalent to a 1.6% annualized yield.

Shares of Baker Hughes Company (NASDAQ:BKR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $71.8095.

BKR has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Baker Hughes from $71.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Susquehanna increased their price target on Baker Hughes from $72.00 to $75.00 and gave the company a "positive" rating in a research note on Thursday, September 10th. Citigroup raised their price target on Baker Hughes from $74.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen cut shares of Baker Hughes from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Finally, UBS Group upped their price objective on shares of Baker Hughes from $70.00 to $72.00 and gave the company a "neutral" rating in a report on Monday, September 14th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cardano Risk Management B.V. grew its position in shares of Baker Hughes by 1,005.1% in the fourth quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company's stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Geode Capital Management LLC boosted its stake in Baker Hughes by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company's stock valued at $1,189,194,000 after purchasing an additional 204,534 shares during the period. Norges Bank bought a new stake in Baker Hughes in the 4th quarter valued at $1,022,491,000. Capital International Investors boosted its stake in Baker Hughes by 6.4% in the 4th quarter. Capital International Investors now owns 15,933,590 shares of the company's stock valued at $725,616,000 after purchasing an additional 956,808 shares during the period. Finally, Amundi boosted its position in shares of Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company's stock valued at $668,282,000 after acquiring an additional 2,409,978 shares during the period. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of BKR opened at $57.26 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The firm has a 50-day moving average of $60.72 and a 200-day moving average of $61.21. The company has a market cap of $56.84 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. Baker Hughes has a one year low of $43.92 and a one year high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.13. The business had revenue of $6.74 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%.Baker Hughes's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. As a group, equities analysts forecast that Baker Hughes will post 2.53 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.6%. Baker Hughes's payout ratio is presently 29.68%.

Baker Hughes Company Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the energy and industrial sectors. Its offerings support the exploration, development, production, transportation and processing of oil and natural gas, as well as broader energy and industrial operations.

The company's portfolio includes oilfield services and equipment, drilling and completion technologies, artificial lift systems, subsea production solutions, turbomachinery, compressors, gas technology and liquefied natural gas equipment.

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