Royal Bank of Canada Reaffirms Outperform Rating for Baker Hughes (NASDAQ:BKR)

Royal Bank of Canada restated their outperform rating on shares of Baker Hughes (NASDAQ:BKRFree Report) in a research note published on Thursday morning, Benzinga reports. They currently have a $39.00 price objective on the stock.

A number of other equities research analysts also recently commented on BKR. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research report on Friday, January 26th. Morgan Stanley boosted their price objective on shares of Baker Hughes from $37.00 to $40.00 and gave the company an overweight rating in a research report on Tuesday, October 17th. Barclays lowered their price target on Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an outperform rating to a peer perform rating in a research report on Monday, January 29th. Finally, TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to, the stock has an average rating of Moderate Buy and a consensus price target of $40.44.

View Our Latest Stock Report on Baker Hughes

Baker Hughes Stock Performance

NASDAQ BKR opened at $28.99 on Thursday. The stock has a 50-day moving average of $32.35 and a 200 day moving average of $34.23. Baker Hughes has a twelve month low of $26.12 and a twelve month high of $37.58. The stock has a market capitalization of $29.17 billion, a price-to-earnings ratio of 15.18 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Sell-side analysts anticipate that Baker Hughes will post 2.12 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th will be paid a $0.21 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, February 12th. Baker Hughes’s dividend payout ratio is currently 41.88%.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new position in shares of Baker Hughes during the second quarter valued at $27,000. Jefferies Financial Group Inc. purchased a new position in Baker Hughes during the 4th quarter valued at about $27,000. Hall Laurie J Trustee purchased a new position in Baker Hughes in the third quarter valued at about $28,000. Allworth Financial LP grew its stake in Baker Hughes by 133.8% during the 2nd quarter. Allworth Financial LP now owns 1,017 shares of the company’s stock worth $32,000 after buying an additional 582 shares during the last quarter. Finally, Miller Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 6,306.3% during the second quarter. Miller Wealth Advisors LLC now owns 1,025 shares of the company’s stock valued at $32,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.

About Baker Hughes

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.

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Analyst Recommendations for Baker Hughes (NASDAQ:BKR)

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