Melius Research Begins Coverage on Baker Hughes (NASDAQ:BKR)

Key Points

• Melius Research has initiated coverage on Baker Hughes, giving the stock a "buy" rating and setting a price target of $60.00, suggesting a potential upside of 40.43% from its current price.
• Despite the recent initiation of coverage, Baker Hughes shares experienced a slight decline of 0.5% during trading hours, reaching $42.7260.
• Currently, Baker Hughes holds an average rating of "Moderate Buy" from twenty analysts, with a consensus target price of $52.29.

Investment analysts at Melius Research started coverage on shares of Baker Hughes (NASDAQ:BKR - Get Free Report) in a report released on Wednesday,Benzinga reports. The firm set a "buy" rating and a $60.00 price target on the stock. Melius Research's target price indicates a potential upside of 40.43% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Barclays lifted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada reduced their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Melius started coverage on Baker Hughes in a research report on Wednesday. They set a "buy" rating and a $60.00 price target for the company. Finally, Seaport Res Ptn cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Baker Hughes Stock Down 0.5%

Shares of BKR stock traded down $0.2240 during trading hours on Wednesday, reaching $42.7260. 538,564 shares of the company's stock were exchanged, compared to its average volume of 7,841,763. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes has a 1 year low of $32.25 and a 1 year high of $49.40. The stock has a market cap of $42.12 billion, a PE ratio of 13.97, a PEG ratio of 1.95 and a beta of 0.94. The stock's fifty day moving average price is $41.07 and its two-hundred day moving average price is $40.79.

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

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value 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 link. 0.27% of the stock is owned by company insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in shares of Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company's stock valued at $27,314,000 after buying an additional 17,035 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Baker Hughes by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company's stock worth $1,075,000 after purchasing an additional 8,351 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Baker Hughes by 7.2% during the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company's stock worth $54,462,000 after purchasing an additional 82,706 shares in the last quarter. Stack Financial Management Inc purchased a new stake in shares of Baker Hughes during the first quarter worth approximately $12,890,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Baker Hughes during the first quarter worth approximately $360,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Company Profile

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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