Shares of Baker Hughes (NASDAQ:BKR - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $44.44 and last traded at $44.14, with a volume of 309258 shares trading hands. The stock had previously closed at $44.11.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on BKR shares. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Royal Bank of Canada reissued an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Finally, Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a "positive" rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $44.12.
Get Our Latest Analysis on Baker Hughes
Baker Hughes Price Performance
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 company has a 50 day moving average of $36.75 and a two-hundred day moving average of $34.94. The firm has a market cap of $43.50 billion, a P/E ratio of 19.78, a PEG ratio of 0.73 and a beta of 1.38.
Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 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 the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current year.
Baker Hughes Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock valued at $198,326,000 after purchasing an additional 860,219 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company's stock worth $72,368,000 after buying an additional 780,417 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes during the third quarter valued at $27,914,000. Finally, Legal & General Group Plc raised its position in Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock valued at $306,801,000 after buying an additional 692,859 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.
About Baker Hughes
(
Get Free Report)
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.
Further Reading
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