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

Piper Sandler initiated coverage on shares of Baker Hughes (NASDAQ:BKR - Free Report) in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage issued an overweight rating and a $53.00 price objective on the stock.

BKR has been the topic of a number of other research reports. Bank of America upped their target price on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Barclays upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Susquehanna boosted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.00.

Baker Hughes Stock Performance

NASDAQ BKR traded down $0.24 on Thursday, hitting $39.80. 5,969,672 shares of the stock traded hands, compared to its average volume of 7,119,182. The business's fifty day moving average is $40.80 and its two-hundred day moving average is $36.90. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The firm has a market capitalization of $39.38 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal 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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is 37.67%.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in BKR. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the third quarter worth $30,000. True Wealth Design LLC lifted its position 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 worth $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after purchasing an additional 796 shares during the last quarter. Finally, Alta Advisers Ltd bought a new position in Baker Hughes in the 2nd quarter valued at about $42,000. Hedge funds and other 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.