Baker Hughes (NASDAQ:BKR) Given New $70.00 Price Target at Royal Bank Of Canada

Baker Hughes (NASDAQ:BKR) had its target price dropped by Royal Bank Of Canada from $71.00 to $70.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 28.35% from the company’s current price.

A number of other research analysts have also weighed in on BKR. The Goldman Sachs Group started coverage on shares of Baker Hughes in a report on Tuesday, September 29th. They issued a “buy” rating and a $71.00 target price for the company. Wall Street Zen downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Baker Hughes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, Jefferies Financial Group dropped their price objective on shares of Baker Hughes from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.14.

Baker Hughes Price Performance

BKR stock traded down $0.12 during midday trading on Thursday, hitting $54.54. The company’s stock had a trading volume of 4,406,309 shares, compared to its average volume of 8,664,801. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes has a 12 month low of $44.26 and a 12 month high of $70.41. The company has a 50 day moving average of $58.48 and a two-hundred day moving average of $59.99. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. On average, analysts expect that Baker Hughes will post 2.57 EPS for the current year.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently modified their holdings of the stock. MCF Advisors LLC grew its holdings in shares of Baker Hughes by 121.4% during the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock valued at $26,000 after buying an additional 261 shares during the last quarter. Latitude Advisors LLC purchased a new position in Baker Hughes in the 3rd quarter worth $27,000. Olistico Wealth LLC raised its stake in Baker Hughes by 209.4% in the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock worth $27,000 after acquiring an additional 335 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock worth $27,000 after acquiring an additional 359 shares during the period. Finally, Godsey & Gibb Inc. acquired a new stake in Baker Hughes during the 3rd quarter worth about $33,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes News Roundup

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: AI infrastructure demand is a major growth catalyst. Baker Hughes secured an approximately 1.1-gigawatt order from a major U.S. technology company for power-generation and cooling solutions, including turbines, generators, gearboxes and Chart dry coolers. Major U.S. Technology Company Selects Baker Hughes’ Power Generation and Cooling Solutions
• Positive Sentiment: Integrated Energy Technologies momentum improved. Management raised its 2026 IET orders outlook to $21.5 billion-$23.5 billion as data-center power and LNG demand strengthened the backlog. Third-quarter orders totaled $10.8 billion, while total remaining performance obligations reached a record $46.4 billion, including $39.4 billion in IET. BKR Q3 Earnings Call Raises IET Outlook as Backlog Builds
• Positive Sentiment: Baker Hughes also won a significant subsea production-systems and services contract from Eni for the Cronos gas development offshore Cyprus, booked in the third quarter. Baker Hughes Wins Subsea Award for Eni’s Cronos Gas Development
• Neutral Sentiment: Adjusted third-quarter EPS of $0.70 and revenue of $8.03 billion exceeded consensus estimates of $0.61 and $7.75 billion, respectively. The company also declared its regular $0.23-per-share quarterly dividend.
• Negative Sentiment: Despite the adjusted earnings beat, reported profit declined year over year, increasing concerns that near-term earnings are not fully reflecting the strong order momentum.
• Negative Sentiment: Barclays lowered its BKR price target from $72 to $62 and maintained an “equal weight” rating, signaling more limited upside expectations even though the new target remains above the current share price. Barclays Stock Recommendations

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.