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

Shares of Baker Hughes (NASDAQ:BKRGet Free Report) 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.

Check Out Our Latest Stock Report on BKR

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:BKRGet Free Report) 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

(Get Free Report)

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.

Further Reading

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