Baker Hughes (NYSE:BKR) Hits New 12-Month Low at $21.28

Baker Hughes (NYSE:BKRGet Rating) shares reached a new 52-week low on Friday . The stock traded as low as $21.28 and last traded at $21.61, with a volume of 145862 shares traded. The stock had previously closed at $22.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BKR shares. Stephens decreased their target price on Baker Hughes from $40.00 to $32.00 in a research report on Thursday, July 21st. Wells Fargo & Company decreased their price target on shares of Baker Hughes from $43.00 to $36.00 in a report on Thursday, July 21st. Barclays reduced their target price on shares of Baker Hughes from $46.00 to $44.00 in a research note on Thursday, July 21st. Royal Bank of Canada dropped their target price on shares of Baker Hughes from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of Baker Hughes from $41.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.05.

Baker Hughes Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.51 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $25.02 and a 200 day simple moving average of $30.69. The company has a market capitalization of $21.98 billion, a PE ratio of 34.36 and a beta of 1.40.

Baker Hughes (NYSE:BKRGet Rating) last released its earnings results on Wednesday, July 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). Baker Hughes had a positive return on equity of 3.82% and a negative net margin of 2.27%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same period in the prior year, the business earned $0.10 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Baker Hughes will post 0.94 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Monday, August 8th. Baker Hughes’s payout ratio is -167.44%.

Insider Transactions at Baker Hughes

In other news, Director Michael R. Dumais purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was bought at an average price of $24.39 per share, with a total value of $243,900.00. Following the acquisition, the director now directly owns 24,977 shares of the company’s stock, valued at $609,189.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BKR. Capital World Investors grew its holdings in shares of Baker Hughes by 9.4% during the first quarter. Capital World Investors now owns 116,492,563 shares of the company’s stock valued at $4,241,658,000 after buying an additional 10,021,569 shares during the last quarter. Vanguard Group Inc. increased its holdings in Baker Hughes by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 103,492,752 shares of the company’s stock worth $3,768,172,000 after acquiring an additional 8,563,026 shares during the period. Capital Research Global Investors grew its stake in Baker Hughes by 9.9% in the 1st quarter. Capital Research Global Investors now owns 94,780,843 shares of the company’s stock worth $3,450,984,000 after buying an additional 8,526,488 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Baker Hughes by 0.3% in the 1st quarter. BlackRock Inc. now owns 70,749,742 shares of the company’s stock valued at $2,575,998,000 after purchasing an additional 219,149 shares in the last quarter. Finally, State Street Corp boosted its position in Baker Hughes by 4.5% during the 2nd quarter. State Street Corp now owns 65,088,442 shares of the company’s stock valued at $1,879,103,000 after buying an additional 2,796,843 shares during the period. 96.62% of the stock is owned by institutional investors.

Baker Hughes Company Profile

(Get Rating)

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.

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