Baker Hughes (NASDAQ:BKR) Research Coverage Started at Johnson Rice

Johnson Rice began coverage on shares of Baker Hughes (NASDAQ:BKR) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $68.00 price target on the stock.

A number of other brokerages also recently weighed in on BKR. Jefferies Financial Group boosted their target price on Baker Hughes from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, January 31st. Barclays upped their price objective on Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Piper Sandler lifted their target price on Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Evercore reissued an “outperform” rating and issued a $68.00 price target on shares of Baker Hughes in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.39.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $65.26 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The stock has a market cap of $64.49 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. The stock’s fifty day simple moving average is $54.51 and its two-hundred day simple moving average is $49.61. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $65.78.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s payout ratio is 35.38%.

Insider Buying and Selling

In related news, CAO Rebecca L. Charlton sold 1,985 shares of Baker Hughes stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total value of $110,703.45. Following the completion of the transaction, the chief accounting officer directly owned 12,052 shares in the company, valued at approximately $672,140.04. The trade was a 14.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider directly owned 14,588 shares in the company, valued at $862,296.68. The trade was a 56.76% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 40,001 shares of company stock valued at $2,322,692. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Baker Hughes by 0.5% in the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after acquiring an additional 598,159 shares during the period. State Street Corp boosted its holdings in Baker Hughes by 1.6% in the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after purchasing an additional 937,614 shares during the period. Cardano Risk Management B.V. grew its position in shares of Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares in the last quarter. Capital World Investors increased its holdings in shares of Baker Hughes by 7.1% in the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Baker Hughes by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after buying an additional 204,534 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.