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

Baker Hughes (NASDAQ:BKRGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.18 and last traded at $45.02, with a volume of 539672 shares. The stock had previously closed at $44.83.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BKR. Barclays raised their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets raised their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, TD Cowen lowered their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.18.

Get Our Latest Stock Analysis on BKR

Baker Hughes Stock Down 0.2 %

The company has a market cap of $44.25 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. 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 firm’s 50 day moving average price is $42.41 and its 200-day moving average price is $38.07.

Baker Hughes (NASDAQ:BKRGet Free Report) last issued its 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 firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. As a group, equities research analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 1.88%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is presently 37.67%.

Institutional Trading of Baker Hughes

A number of large investors have recently bought and sold shares of the business. Kathmere Capital Management LLC boosted its stake in Baker Hughes by 32.3% in the 4th quarter. Kathmere Capital Management LLC now owns 8,104 shares of the company’s stock worth $332,000 after purchasing an additional 1,980 shares during the period. 180 Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after purchasing an additional 295 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Baker Hughes by 13.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 7,141 shares of the company’s stock worth $293,000 after buying an additional 845 shares during the period. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes during the fourth quarter worth about $1,180,000. Finally, Bar Harbor Wealth Management raised its position in Baker Hughes by 18.2% in the 4th quarter. Bar Harbor Wealth Management now owns 224,681 shares of the company’s stock valued at $9,216,000 after buying an additional 34,663 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Company Profile

(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.

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