Shares of Baker Hughes Company (NYSE:BKR) have received an average rating of “Buy” from the twenty-three research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.61.
BKR has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Baker Hughes from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Citigroup raised their target price on Baker Hughes from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Royal Bank of Canada restated a “buy” rating on shares of Baker Hughes in a research note on Tuesday, June 23rd. Northland Securities assumed coverage on Baker Hughes in a research note on Friday, May 29th. They issued a “market perform” rating and a $17.00 target price for the company. Finally, Credit Suisse Group raised their target price on Baker Hughes from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd.
Several hedge funds have recently bought and sold shares of BKR. AXA purchased a new position in shares of Baker Hughes in the first quarter worth $199,000. State Street Corp purchased a new position in shares of Baker Hughes in the first quarter worth $361,242,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Baker Hughes in the first quarter worth $4,771,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.
Baker Hughes (NYSE:BKR) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.11 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.11. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.62 billion. Baker Hughes had a positive return on equity of 1.53% and a negative net margin of 42.77%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. As a group, equities analysts predict that Baker Hughes will post 0.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 26th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Friday, May 22nd. Baker Hughes’s dividend payout ratio is currently 84.71%.
About Baker Hughes
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.
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