Baker Hughes Company [BKR] Stock trading around $22.73 per share: What’s Next?

Baker Hughes Company [NYSE: BKR] stock went on an upward path that rose over 3.46% on Friday, amounting to a one-week price decrease of less than -3.44%. The company report on June 30, 2021 that Baker Hughes Wins Major Contracts from Petrobras for Flexible Pipes Across Five Offshore Fields.

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Combined contracts include 370 kilometers of flexible pipe for the Marlim 2, Itapu, Sapinhoa, Tupi and Buzios 5 pre-salt and post-salt fields offshore Brazil.

Volume of flexible pipe awarded by Petrobras to Baker Hughes in the first half of 2021 larger than the total volume of flexible pipe awarded by Petrobras to Baker Hughes in 2019 and 2020 combined.

Over the last 12 months, BKR stock rose by 55.15%. The one-year Baker Hughes Company stock forecast points to a potential upside of 19.48. The average equity rating for BKR stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $22.88 billion, with 740.00 million shares outstanding and 735.73 million shares in the current float. Compared to the average trading volume of 9.01M shares, BKR stock reached a trading volume of 5637736 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Baker Hughes Company [BKR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BKR shares is $28.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BKR stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Baker Hughes Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2021. While these analysts kept the previous recommendation, Barclays raised their target price from $25 to $28. The new note on the price target was released on May 03, 2021, representing the official price target for Baker Hughes Company stock. Previously, the target price had yet another raise from $21 to $27, while Citigroup kept a Buy rating on BKR stock. On April 19, 2021, analysts decreased their price target for BKR shares from 27 to 26.

The Average True Range (ATR) for Baker Hughes Company is set at 0.79, with the Price to Sales ratio for BKR stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 5.07.

BKR Stock Performance Analysis:

Baker Hughes Company [BKR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.44. With this latest performance, BKR shares dropped by -11.93% in over the last four-week period, additionally plugging by 0.26% over the last 6 months – not to mention a rise of 55.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BKR stock in for the last two-week period is set at 43.54, with the RSI for the last a single of trading hit 43.38, and the three-weeks RSI is set at 45.15 for Baker Hughes Company [BKR]. The present Moving Average for the last 50 days of trading for this stock 24.08, while it was recorded at 22.58 for the last single week of trading, and 20.92 for the last 200 days.

Insight into Baker Hughes Company Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Baker Hughes Company [BKR] shares currently have an operating margin of +3.25 and a Gross Margin at +18.03. Baker Hughes Company’s Net Margin is presently recorded at -48.01.

Return on Total Capital for BKR is now 1.96, given the latest momentum, and Return on Invested Capital for the company is -40.49. Return on Equity for this stock declined to -57.09, with Return on Assets sitting at -21.76. When it comes to the capital structure of this company, Baker Hughes Company [BKR] has a Total Debt to Total Equity ratio set at 65.48. Additionally, BKR Total Debt to Total Capital is recorded at 39.57, with Total Debt to Total Assets ending up at 22.21. Long-Term Debt to Equity for the company is recorded at 56.89, with the Long-Term Debt to Total Capital now at 34.38.

Reflecting on the efficiency of the workforce at the company, Baker Hughes Company [BKR] managed to generate an average of -$180,727 per employee. Receivables Turnover for the company is 3.44 with a Total Asset Turnover recorded at a value of 0.45.Baker Hughes Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.60.

Baker Hughes Company [BKR] Insider Position Details

There are presently around $22,978 million, or 92.40% of BKR stock, in the hands of institutional investors. The top three institutional holders of BKR stocks are: GENERAL ELECTRIC CO with ownership of 311,432,660, which is approximately -10.877% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 83,082,611 shares of the stock with an approximate value of $1.89 billion in BKR stocks shares; and VANGUARD GROUP INC, currently with $1.78 billion in BKR stock with ownership of nearly 7.122% of the company’s market capitalization.

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Positions in Baker Hughes Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 336 institutional holders increased their position in Baker Hughes Company [NYSE:BKR] by around 85,228,070 shares. Additionally, 195 investors decreased positions by around 96,238,414 shares, while 63 investors held positions by with 829,446,904 shares. The mentioned changes placed institutional holdings at 1,010,913,388 shares, according to the latest SEC report filing. BKR stock had 101 new institutional investments in for a total of 14,115,525 shares, while 53 institutional investors sold positions of 6,016,066 shares during the same period.

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