Baker Hughes (NYSE:BKR) Reaches New 52-Week High at $26.67

Baker Hughes (NYSE:BKR)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $26.67 and last traded at $26.44, with a volume of 55504 shares trading hands. The stock had previously closed at $26.25.

A number of equities research analysts have commented on BKR shares. Piper Sandler increased their price target on Baker Hughes from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, September 9th. Seaport Res Ptn reissued a “buy” rating on shares of Baker Hughes in a report on Thursday, July 15th. Morgan Stanley increased their price objective on Baker Hughes from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group raised Baker Hughes from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, August 17th. Finally, Seaport Global Securities assumed coverage on Baker Hughes in a report on Thursday, July 15th. They issued a “buy” rating and a $28.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $27.57.

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15. The firm has a fifty day simple moving average of $23.27 and a 200 day simple moving average of $22.84. The company has a market capitalization of $27.73 billion, a price-to-earnings ratio of -875.00 and a beta of 1.76.

Baker Hughes (NYSE:BKR) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Baker Hughes had a negative net margin of 0.18% and a positive return on equity of 0.86%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts predict that Baker Hughes will post 0.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Tuesday, August 10th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.71%. The ex-dividend date was Monday, August 9th. Baker Hughes’s payout ratio is currently 122.03%.

In related news, Director Electric Co General sold 53,720,040 shares of Baker Hughes stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $23.36, for a total transaction of $1,254,900,134.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Maria C. Borras sold 10,000 shares of Baker Hughes stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $20.74, for a total value of $207,400.00. Following the transaction, the executive vice president now owns 88,274 shares in the company, valued at approximately $1,830,802.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,784,040 shares of company stock worth $1,256,369,414. 0.29% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in Baker Hughes during the second quarter worth approximately $25,000. PNC Managed Account Solutions Inc. acquired a new stake in Baker Hughes during the second quarter worth $29,000. Berman Capital Advisors LLC increased its stake in Baker Hughes by 195.9% during the second quarter. Berman Capital Advisors LLC now owns 1,379 shares of the company’s stock worth $31,000 after acquiring an additional 913 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Baker Hughes during the first quarter worth $40,000. Finally, CX Institutional increased its stake in Baker Hughes by 56.3% during the second quarter. CX Institutional now owns 1,885 shares of the company’s stock worth $43,000 after acquiring an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 95.87% of the company’s stock.

About Baker Hughes (NYSE:BKR)

Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.

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