Baker Hughes (NASDAQ:BKR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Baker Hughes (NASDAQ:BKR) has been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $50.18.

A number of research firms recently weighed in on BKR. Bank of America increased their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group raised their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. Citigroup boosted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th.

Baker Hughes Stock Performance

Shares of BKR opened at $47.96 on Friday. The company has a market cap of $47.46 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The firm has a 50-day moving average of $43.11 and a 200-day moving average of $39.20. Baker Hughes has a one year low of $28.32 and a one year high of $48.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts forecast that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.92%. Baker Hughes’s dividend payout ratio is presently 28.19%.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after buying an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Baker Hughes by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after purchasing an additional 22,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Baker Hughes by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock valued at $230,271,000 after purchasing an additional 45,324 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.