Baker Hughes Company (BKR) Holding Strong: What’s pushing it?

The price of Baker Hughes Company (NASDAQ:BKR) shares last traded on Wall Street fell -0.89% to $31.02.

Based on available information, 26 analysts follow Baker Hughes Company (NASDAQ:BKR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $29.00, we find $37.00. Given the previous closing price of $31.30, this indicates a potential upside of 18.21 percent. BKR stock price is now 5.21% away from the 50-day moving average and 8.24% away from the 200-day moving average. The market capitalization of the company currently stands at $31.93B.

Among analysts, 7 rate the stock a hold while 17 rate it a buy. Brokers who have rated the stock have averaged $36.27 as their price target over the next twelve months.

With the price target of $36, The Benchmark Company recently initiated with Buy rating for Baker Hughes Company (NASDAQ: BKR). On October 26, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock keeping its target price maintained at $29, while ‘Jefferies’ rates the stock as ‘Buy’.

In other news, BORRAS MARIA C, EVP, Oilfield Services & Equip sold 9,811 shares of the company’s stock on Dec 30. The stock was sold for $284,519 at an average price of $29.00. Upon completion of the transaction, the EVP, Oilfield Services & Equip now directly owns 20,474 shares in the company, valued at $0.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 01, EVP, Oilfield Services & Equip BORRAS MARIA C sold 54,000 shares of the business’s stock. A total of $1,588,680 was realized by selling the stock at an average price of $29.42. This leaves the insider owning 20,474 shares of the company worth $0.64 million. Insiders disposed of 123,155,803 shares of company stock worth roughly $3.82 billion over the past 1 year. A total of 0.14% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in BKR stock. A new stake in Baker Hughes Company shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $66,131,000. TWO SIGMA INVESTMENTS, LP invested $54,139,000 in shares of BKR during the first quarter. In the first quarter, ARTEMIS INVESTMENT MANAGEMENT LLP acquired a new stake in Baker Hughes Company valued at approximately $40,107,000. POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in BKR for approximately $23,108,000. JUPITER ASSET MANAGEMENT LTD purchased a new stake in BKR valued at around $18,930,000 in the second quarter.

A candlestick chart of Baker Hughes Company (NASDAQ: BKR) showed a price of $30.99 on Monday morning. During the past 12 months, Baker Hughes Company has had a low of $20.42 and a high of $39.78. As of last week, the company has a debt-to-equity ratio of 0.47, a current ratio of 1.50, and a quick ratio of 1.10. The fifty day moving average price for BKR is $29.48 and a two-hundred day moving average price translates $28.66 for the stock.

The latest earnings results from Baker Hughes Company (NASDAQ: BKR) was released for Sep, 2022. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.26, beating analysts’ expectations of $0.24 by 0.02. This compares to $0.02 EPS in the same period last year. The net profit margin was -2.20% and return on equity was -3.00% for BKR. The company reported revenue of $5.37 billion for the quarter, compared to $5.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.42 percent. For the current quarter, analysts expect BKR to generate $6.08B in revenue.

Moreover, the firm recently paid out its quarterly dividend on 02/17/2023. Investors who held shares on 02/06/2023 were paid a $0.19 dividend. On an annualized basis, this represents a $0.76 dividend and a 2.45% percent yield. There was an ex-dividend date of 02/03/2023 for this dividend.

Baker Hughes Company(BKR) Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies. The OFE segment provides subsea and surface wellheads, pressure control and production systems and services, flexible pipe systems for offshore and onshore applications, and life-of-field solutions, including well intervention and decommissioning solutions; and services related to onshore and offshore drilling and production operations. The TPS segment provides equipment and related services for mechanical-drive, compression, and power-generation applications across the oil and gas industry. Its product portfolio includes drivers, compressors, and turnkey solutions; and pumps, valves, and compressed natural gas and small-scale liquefied natural gas solutions. This segment serves upstream, midstream, downstream, onshore, offshore, and industrial customers. The DS segment provides sensor-based process measurements, machine health and condition monitoring, asset strategy and management, control systems, as well as non-destructive testing and inspection, and pipeline integrity solutions. The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019. Baker Hughes Company is based in Houston, Texas.