Baker Hughes (NASDAQ:BKR) Sets New 1-Year High – Here’s What Happened

Baker Hughes Company (NASDAQ:BKR)’s stock price reached a new 52-week high on Monday . The stock traded as high as $50.92 and last traded at $50.4730, with a volume of 1098825 shares traded. The stock had previously closed at $50.20.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BKR shares. Evercore ISI set a $54.00 target price on Baker Hughes in a research note on Monday, October 27th. Melius began coverage on Baker Hughes in a report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Royal Bank Of Canada lifted their target price on Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Baker Hughes in a report on Tuesday, November 25th. Finally, Piper Sandler raised their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.42.

Baker Hughes Stock Up 0.3%

The business has a 50-day moving average price of $47.97 and a 200-day moving average price of $43.74. 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 stock has a market cap of $49.69 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The business had revenue of $5.09 billion during the quarter. As a group, analysts forecast that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.8%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’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 $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds have recently bought and sold shares of the company. Forum Financial Management LP increased its holdings in shares of Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after purchasing an additional 233 shares during the period. AMG National Trust Bank raised its position in shares of Baker Hughes by 3.7% during the 3rd quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after buying an additional 246 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Baker Hughes by 1.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 19,674 shares of the company’s stock valued at $959,000 after acquiring an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Baker Hughes by 4.4% during the third quarter. Wealthcare Advisory Partners LLC now owns 6,282 shares of the company’s stock valued at $306,000 after acquiring an additional 264 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Baker Hughes by 23.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,421 shares of the company’s stock worth $69,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.