Baker Hughes (NASDAQ:BKR) Reaches New 12-Month High – Should You Buy?

Baker Hughes (NASDAQ:BKR)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $49.40 and last traded at $46.98, with a volume of 9234297 shares traded. The stock had previously closed at $48.85.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent research reports. Wells Fargo & Company raised their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Stock Down 3.8 %

The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $43.30 and its 200 day moving average price is $39.35. The company has a market capitalization of $46.49 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities research analysts predict that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. acquired a new position in Baker Hughes in the fourth quarter worth $2,501,000. Raymond James Financial Inc. acquired a new position in Baker Hughes during the 4th quarter worth about $291,289,000. Arizona State Retirement System grew its holdings in Baker Hughes by 0.9% during the 4th quarter. Arizona State Retirement System now owns 288,510 shares of the company’s stock worth $11,835,000 after acquiring an additional 2,586 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Baker Hughes in the fourth quarter worth about $4,410,000. Finally, M&T Bank Corp lifted its position in shares of Baker Hughes by 8.3% during the fourth quarter. M&T Bank Corp now owns 52,059 shares of the company’s stock worth $2,135,000 after purchasing an additional 3,984 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.