Baker Hughes (NASDAQ:BKR) Sets New 1-Year High – What’s Next?

Shares of Baker Hughes (NASDAQ:BKR) hit a new 52-week high on Tuesday . The stock traded as high as $44.44 and last traded at $44.14, with a volume of 309258 shares. The stock had previously closed at $44.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. TD Cowen raised their target price on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Evercore ISI upped their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market cap of $43.50 billion, a P/E ratio of 19.78, a PEG ratio of 0.73 and a beta of 1.38. The company has a fifty day moving average price of $36.75 and a two-hundred day moving average price of $34.94.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, November 4th. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new position in Baker Hughes in the 1st quarter worth about $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes in the second quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes in the second quarter valued at about $48,000. Finally, Quarry LP increased its stake in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

About Baker Hughes

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