Baker Hughes (NASDAQ:BKR) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Baker Hughes (NASDAQ:BKR) from a sell rating to a hold rating in a report published on Friday morning,Benzinga reports. They currently have $52.00 target price on the stock, up from their prior target price of $51.00.

Other analysts also recently issued reports about the company. Citigroup reduced their target price on Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Stifel Nicolaus boosted their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Morgan Stanley reduced their price objective on shares of Baker Hughes from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Baker Hughes in a report on Tuesday, September 29th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Zacks Research raised shares of Baker Hughes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Baker Hughes Price Performance

Shares of BKR opened at $55.23 on Friday. The firm’s 50-day simple moving average is $58.13 and its 200 day simple moving average is $60.05. The firm has a market cap of $54.83 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.04. Baker Hughes has a 52 week low of $44.26 and a 52 week high of $70.41. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. During the same period in the prior year, the company posted $0.68 earnings per share. Baker Hughes’s revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that Baker Hughes will post 2.58 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s payout ratio is currently 31.72%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC grew its stake in shares of Baker Hughes by 17.7% during the third quarter. Pathway Financial Advisers LLC now owns 19,991 shares of the company’s stock worth $1,098,000 after buying an additional 3,005 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Baker Hughes by 12.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,838 shares of the company’s stock worth $650,000 after purchasing an additional 1,327 shares in the last quarter. Boston Trust Walden Corp raised its position in Baker Hughes by 37.3% in the third quarter. Boston Trust Walden Corp now owns 67,970 shares of the company’s stock valued at $3,732,000 after purchasing an additional 18,481 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Baker Hughes by 139.2% during the third quarter. Chicago Partners Investment Group LLC now owns 11,508 shares of the company’s stock valued at $643,000 after purchasing an additional 6,696 shares in the last quarter. Finally, Rakuten Investment Management Inc. boosted its stake in shares of Baker Hughes by 10.6% during the third quarter. Rakuten Investment Management Inc. now owns 264,246 shares of the company’s stock valued at $14,777,000 after purchasing an additional 25,242 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 (NASDAQ: BKR) is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company’s oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.