Baker Hughes (NASDAQ:BKR) Sets New 52-Week High - Time to Buy?

Baker Hughes (NASDAQ:BKR - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $49.40 and last traded at $46.98, with a volume of 9234297 shares changing hands. The stock had previously closed at $48.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Piper Sandler raised their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Barclays raised their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Benchmark reaffirmed a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.18.

Baker Hughes Trading Up 2.4 %

The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $43.42 and its two-hundred day moving average is $39.53. The stock has a market cap of $46.83 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts anticipate that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. Baker Hughes's payout ratio is 28.19%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Institutional Trading of Baker Hughes

Several hedge funds have recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC increased its position in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after purchasing an additional 386 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Larson Financial Group LLC lifted its stake in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in 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 buying an additional 829 shares in the last quarter. 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.