Baker Hughes (NASDAQ:BKR) Research Coverage Started at Piper Sandler

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

Other equities analysts also recently issued reports about the stock. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Bank of America increased their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets lifted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $40.32 on Thursday. 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 stock has a market cap of $39.90 billion, a PE ratio of 18.08, a PEG ratio of 0.72 and a beta of 1.40. The company’s fifty day moving average is $40.85 and its 200 day moving average is $36.99. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.08%. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Continuum Advisory LLC grew its holdings in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the last quarter. Alta Advisers Ltd purchased a new position in Baker Hughes in the 2nd quarter worth about $42,000. Finally, Headlands Technologies LLC bought a new stake in Baker Hughes during the 2nd quarter valued at about $48,000. Institutional investors 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.