Baker Hughes (NASDAQ:BKR) Hits New 1-Year High – What’s Next?

Baker Hughes (NASDAQ:BKR)’s share 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 traded. The stock had previously closed at $44.83.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BKR shares. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI upped their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The company’s 50 day moving average price is $42.54 and its 200-day moving average price is $38.14. The stock has a market cap of $45.24 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% in the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares during the last quarter. Northstar Advisory Group LLC bought a new stake in Baker Hughes in the fourth quarter worth about $1,180,000. Hixon Zuercher LLC purchased a new position in Baker Hughes in the third quarter valued at about $1,980,000. Burney Co. grew its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after acquiring an additional 105,349 shares during the period. Finally, Bar Harbor Wealth Management increased its stake in shares of Baker Hughes by 18.2% during the 4th quarter. Bar Harbor Wealth Management now owns 224,681 shares of the company’s stock worth $9,216,000 after purchasing an additional 34,663 shares during 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.