Baker Hughes (NASDAQ:BKR) Hits New 52-Week High - Here's Why

Shares of Baker Hughes (NASDAQ:BKR - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.18 and last traded at $45.02, with a volume of 539672 shares trading hands. The stock had previously closed at $44.83.

Analysts Set New Price Targets

Several analysts recently commented on BKR shares. Royal Bank of Canada raised their target price on Baker Hughes from $43.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Citigroup raised their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Atb Cap Markets cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.18.

Baker Hughes Stock Performance

The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock's fifty day simple moving average is $42.41 and its 200 day simple moving average is $38.07. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 0.72 and a beta of 1.39.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date was Monday, November 4th. Baker Hughes's payout ratio is currently 37.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BKR. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes in the third quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment lifted its stake in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after acquiring an additional 796 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Baker Hughes in the 2nd quarter valued at about $48,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.