Baker Hughes (NASDAQ:BKR) Coverage Initiated at Piper Sandler

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

Several other brokerages also recently weighed in on BKR. Stifel Nicolaus increased their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group dropped their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Barclays boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Baker Hughes Price Performance

BKR opened at $40.32 on Thursday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The firm has a market capitalization of $39.90 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The business’s 50-day moving average is $40.85 and its two-hundred day moving average is $36.99.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the firm posted $0.42 EPS. Baker Hughes’s 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 fiscal year.

Baker Hughes Announces Dividend

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

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Pension Service raised its position in Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the period. Hixon Zuercher LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $1,980,000. Banque Cantonale Vaudoise lifted its stake in Baker Hughes by 76.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock worth $4,434,000 after acquiring an additional 53,006 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares during the period. Finally, National Bank of Canada FI grew its position in Baker Hughes by 60.3% in the 3rd quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock valued at $45,916,000 after acquiring an additional 478,009 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.