Weiss Ratings Reiterates Buy (B) Rating for Baker Hughes (NASDAQ:BKR)

Key Points

• Weiss Ratings has reiterated its "buy (B)" rating for Baker Hughes (NASDAQ:BKR), indicating continued confidence in the company's stock performance.
• Baker Hughes' stock price currently sits at $47.30, with a 1-year high of $50.92 and a consensus rating of "Moderate Buy" from investment analysts.
• Several analysts have recently increased their target prices for Baker Hughes, with JPMorgan and Bank of America raising their targets to $53.00 and $54.00, respectively.

Baker Hughes (NASDAQ:BKR - Get Free Report)'s stock had its "buy (b)" rating restated by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on Baker Hughes from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, September 30th. Bank of America raised their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, October 14th. Piper Sandler raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, October 16th. Capital One Financial lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Finally, Seaport Res Ptn cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average price target of $52.91.

Baker Hughes Price Performance

Baker Hughes stock traded down $1.59 during mid-day trading on Friday, hitting $47.30. 13,058,567 shares of the company were exchanged, compared to its average volume of 7,633,600. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $50.92. The company has a market capitalization of $46.63 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $46.44 and a 200 day moving average of $41.60.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $5.09 billion during the quarter. As a group, sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares of the company's stock, valued at approximately $588,600. The trade was a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Several institutional investors have recently added to or reduced their stakes in the company. MGO One Seven LLC bought a new stake in Baker Hughes in the 3rd quarter valued at $430,000. Tema Etfs LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at $1,386,000. Oliver Luxxe Assets LLC lifted its position in shares of Baker Hughes by 5.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 157,543 shares of the company's stock valued at $7,675,000 after acquiring an additional 8,496 shares during the period. Forum Financial Management LP lifted its position in shares of Baker Hughes by 9.3% during the 3rd quarter. Forum Financial Management LP now owns 18,866 shares of the company's stock valued at $919,000 after acquiring an additional 1,611 shares during the period. Finally, ORG Wealth Partners LLC lifted its position in shares of Baker Hughes by 280.8% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,178 shares of the company's stock valued at $106,000 after acquiring an additional 1,606 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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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