Baker Hughes Company (NASDAQ:BKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Baker Hughes Company (NASDAQ:BKR) have been assigned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.06.

Several research firms recently weighed in on BKR. UBS Group upped their price objective on shares of Baker Hughes from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Barclays upped their price objective on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. TD Cowen upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. TD Securities decreased their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada decreased their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th.

Insider Buying and Selling 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 stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer owned 667,593 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Baker Hughes

A number of institutional investors have recently made changes to their positions in BKR. LPL Financial LLC lifted its stake in Baker Hughes by 57.7% in the fourth quarter. LPL Financial LLC now owns 289,414 shares of the company’s stock worth $11,872,000 after acquiring an additional 105,878 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Baker Hughes by 8.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,656,467 shares of the company’s stock worth $70,665,000 after acquiring an additional 124,937 shares during the period. UniSuper Management Pty Ltd lifted its stake in Baker Hughes by 13.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 84,220 shares of the company’s stock worth $3,455,000 after acquiring an additional 9,876 shares during the period. NEOS Investment Management LLC lifted its stake in Baker Hughes by 25.4% in the fourth quarter. NEOS Investment Management LLC now owns 131,784 shares of the company’s stock worth $5,406,000 after acquiring an additional 26,698 shares during the period. Finally, LM Advisors LLC purchased a new stake in Baker Hughes in the fourth quarter worth $359,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.7%

Shares of BKR opened at $45.75 on Friday. The business’s 50-day moving average price is $39.23 and its 200-day moving average price is $40.99. Baker Hughes has a twelve month low of $32.25 and a twelve month high of $49.40. The stock has a market cap of $45.33 billion, a PE ratio of 14.95, a P/E/G ratio of 5.76 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion for 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 company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. On average, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.07%.

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.