JPMorgan Chase & Co. Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Baker Hughes (NASDAQ:BKR) from $52.00 to $53.00, maintaining an "overweight" rating, which suggests a potential upside of 4.85% from its current price.
• Multiple analysts have issued positive ratings for Baker Hughes, with a consensus price target of $52.36 and a majority emphasizing a "buy" rating, indicating strong market confidence in the stock.
• Baker Hughes reported a quarterly earnings per share (EPS) of $0.63, exceeding expectations, despite a 3.2% decline in revenue compared to the same quarter last year.

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $52.00 to $53.00 in a report released on Tuesday,MarketScreener reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 4.85% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets restated an "outperform" rating and issued a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Capital One Financial lifted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. TD Cowen raised their price objective on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Melius started coverage on shares of Baker Hughes in a report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price target on the stock. Twenty-one analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.36.

Baker Hughes Stock Up 0.1%

NASDAQ:BKR opened at $50.55 on Tuesday. The business's fifty day moving average price is $45.34 and its 200 day moving average price is $41.07. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $49.84 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 2.30 and a beta of 1.01. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $50.92.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the 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 sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares of the company's stock, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 553,068 shares of company stock worth $24,712,651. Corporate insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in shares of Baker Hughes during the first quarter worth $28,000. Golden State Wealth Management LLC grew its position in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after purchasing an additional 604 shares during the period. N.E.W. Advisory Services LLC bought a new stake in Baker Hughes during the 1st quarter worth approximately $30,000. Grove Bank & Trust raised its holdings in Baker Hughes by 76.2% during the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after buying an additional 320 shares during the period. Finally, Harbour Investments Inc. lifted its stake in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company's stock valued at $33,000 after buying an additional 326 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.

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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