Baker Hughes (NASDAQ:BKR) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Baker Hughes (NASDAQ:BKR) in a report published on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $53.00 price target on the stock.

Several other research firms also recently commented on BKR. Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Barclays increased their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.10 during midday trading on Thursday, reaching $39.70. 2,197,593 shares of the stock were exchanged, compared to its average volume of 7,096,874. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $40.80 and a two-hundred day simple moving average of $36.90. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The firm has a market cap of $39.28 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.72 and a beta of 1.40.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Trading of Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes during the third quarter valued at $47,296,000. Eagle Asset Management Inc. increased its position in Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Baker Hughes by 436.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after buying an additional 817,227 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.