Baker Hughes Company (BKR) – What Are Investment Firms Saying About This Stock?

Baker Hughes Company (NASDAQ:BKR) has been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $72.10.

A number of research firms recently issued reports on BKR. UBS Group dropped their price objective on Baker Hughes from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Barclays reduced their target price on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 16th. Wolfe Research began coverage on Baker Hughes in a research report on Wednesday, July 8th. They set an “outperform” rating and a $70.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 target price on shares of Baker Hughes in a research note on Tuesday, September 29th. Finally, TD Cowen lowered their target price on shares of Baker Hughes from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently added to or reduced their stakes in BKR. Amundi increased its position in Baker Hughes by 28.2% during the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock valued at $668,282,000 after purchasing an additional 2,409,978 shares during the period. Advent International L.P. bought a new stake in shares of Baker Hughes in the 1st quarter valued at about $72,309,000. Assenagon Asset Management S.A. raised its holdings in shares of Baker Hughes by 1,289.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,210,521 shares of the company’s stock valued at $72,630,000 after purchasing an additional 1,123,391 shares in the last quarter. Perpetual Ltd lifted its position in shares of Baker Hughes by 24.0% in the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock worth $217,327,000 after purchasing an additional 765,582 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Baker Hughes in the 1st quarter worth approximately $44,328,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 4.2%

Shares of NASDAQ BKR opened at $55.86 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The company has a market cap of $55.45 billion, a P/E ratio of 18.02, a PEG ratio of 2.66 and a beta of 1.04. Baker Hughes has a 1 year low of $44.26 and a 1 year high of $70.41. The firm has a 50-day simple moving average of $58.94 and a two-hundred day simple moving average of $60.61.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, July 27th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that Baker Hughes will post 2.57 earnings per share for the current year.

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.