Baker Hughes (BKR) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Baker Hughes (NASDAQ: BKR) in the last few weeks:

• 12/19/2024 – Baker Hughes is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $53.00 price target on the stock.
• 12/18/2024 – Baker Hughes had its price target raised by analysts at Barclays PLC from $46.00 to $52.00. They now have an “overweight” rating on the stock.
• 12/18/2024 – Baker Hughes had its price target raised by analysts at Bank of America Co. from $42.00 to $48.00. They now have a “buy” rating on the stock.
• 12/17/2024 – Baker Hughes had its price target raised by analysts at Wells Fargo & Company from $42.00 to $49.00. They now have an “overweight” rating on the stock.
• 12/12/2024 – Baker Hughes had its price target raised by analysts at Royal Bank of Canada from $43.00 to $49.00. They now have an “outperform” rating on the stock.
• 12/10/2024 – Baker Hughes was downgraded by analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating.
• 11/25/2024 – Baker Hughes had its price target raised by analysts at Stifel Nicolaus from $45.00 to $48.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Baker Hughes had its price target raised by analysts at Citigroup Inc. from $42.00 to $50.00. They now have a “buy” rating on the stock.

Baker Hughes Price Performance

BKR stock traded up $0.08 during trading hours on Tuesday, hitting $41.02. 4,630,617 shares of the stock traded hands, compared to its average volume of 7,076,203. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $41.43 and a 200 day simple moving average of $37.47. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a market cap of $40.59 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.05%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC grew its position in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the last quarter. Alta Advisers Ltd acquired a new position in shares of Baker Hughes during the 2nd quarter worth $42,000. Finally, Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.