Baker Hughes (NASDAQ:BKR) Stock Lifted to “Hold” by Freedom Broker

Baker Hughes (NASDAQ:BKR) was upgraded by Freedom Broker from a “sell” rating to a “hold” rating in a report released on Friday, Benzinga reports. The firm presently has a $52.00 price target on the stock, up from their previous price target of $51.00. Freedom Broker‘s price objective points to a potential downside of 5.85% from the company’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of Baker Hughes in a research note on Friday, October 9th. Stifel Nicolaus upped their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. UBS Group dropped their price target on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Jefferies Financial Group reduced their price objective on Baker Hughes from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Finally, Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.27.

Baker Hughes Price Performance

Shares of BKR stock opened at $55.23 on Friday. The firm has a market cap of $54.83 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.62 and a beta of 1.04. The firm has a fifty day moving average of $58.13 and a two-hundred day moving average of $60.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. Baker Hughes has a 1-year low of $44.26 and a 1-year high of $70.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Baker Hughes will post 2.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the stock. Bleakley Financial Group LLC raised its position in shares of Baker Hughes by 0.6% during the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock worth $1,556,000 after buying an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC boosted its holdings in shares of Baker Hughes by 2.7% in the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock valued at $403,000 after acquiring an additional 172 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Baker Hughes by 49.0% in the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. Paladin Wealth LLC increased its stake in shares of Baker Hughes by 2.6% during the third quarter. Paladin Wealth LLC now owns 9,162 shares of the company’s stock valued at $503,000 after acquiring an additional 230 shares during the period. Finally, Anchor Investment Management LLC increased its stake in shares of Baker Hughes by 36.3% during the second quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock valued at $53,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

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.