Baker Hughes (NASDAQ:BKR) Rating Lowered to Hold at Atb Cap Markets

Atb Cap Markets cut shares of Baker Hughes (NASDAQ:BKR) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports. Atb Cap Markets also issued estimates for Baker Hughes’ FY2027 earnings at $2.91 EPS.

Several other equities research analysts have also recently commented on BKR. Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Stock Up 3.0 %

Shares of NASDAQ:BKR opened at $42.46 on Tuesday. The stock’s 50-day moving average is $40.37 and its 200 day moving average is $36.56. The company has a market cap of $42.02 billion, a PE ratio of 19.04, a P/E/G ratio of 0.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. 92.06% of the stock is owned by institutional investors.

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.