For Baker Hughes Company [BKR], Analyst sees a rise to $31. What next?



Baker Hughes Company [NYSE: BKR] traded at a high on 10/18/21, posting a 0.26 gain after which it closed the day’ session at $26.96. The company report on October 6, 2021 that Baker Hughes’ Subsea Drilling Systems and Akastor’s MHWirth Complete Merger to Form HMH.

The merger of Baker Hughes’ (NYSE: BKR) Subsea Drilling Systems business (SDS) and Akastor ASA’s (Oslo: AKAST) wholly-owned subsidiary, MHWirth AS (MHWirth), has been completed to form a global offshore drilling equipment company. The new company will be known as HMH (“the Company”), and as previously announced, Baker Hughes and Akastor own equal equity in the Company.

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HMH combines integrated delivery capabilities, capital, renowned industry expertise and delivers the full range of offshore drilling equipment products and packages at scale. HMH aims to support the industry’s transition toward more energy-efficient solutions, as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency. Moreover, the Company’s service and technology portfolio will be utilized as a springboard for future growth, both within drilling services and when pursuing opportunities towards adjacent industries such as renewables and mining.

The results of the trading session contributed to over 12486583 shares changing hands. Over the past one week, the price volatility of Baker Hughes Company stands at 2.96% while the volatility over the past one month is 3.04%.

The market cap for BKR stock reached $28.04 billion, with 806.00 million shares outstanding and 791.88 million shares in the current float. Compared to the average trading volume of 8.36M shares, BKR reached a trading volume of 12486583 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $28.60 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.

RBC Capital Mkts have made an estimate for Baker Hughes Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 09, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $28 to $31. The new note on the price target was released on July 22, 2021, representing the official price target for Baker Hughes Company stock. Previously, the target price had yet another raise to $28, while Seaport Global Securities analysts kept a Buy rating on BKR stock.

The Average True Range (ATR) for Baker Hughes Company is set at 0.81, with the Price to Sales ratio for BKR stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 4.28. Price to Free Cash Flow for BKR in the course of the last twelve months was 57.94 with Quick ratio for the last quarter at 1.20.

How has BKR stock performed recently?

Baker Hughes Company [BKR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.93. With this latest performance, BKR shares gained by 12.61% in over the last four-week period, additionally plugging by 38.19% over the last 6 months – not to mention a rise of 105.18% 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 72.86, with the RSI for the last a single of trading hit 78.94, and the three-weeks RSI is set at 68.52 for Baker Hughes Company [BKR]. The present Moving Average for the last 50 days of trading for this stock 23.58, while it was recorded at 26.54 for the last single week of trading, and 22.89 for the last 200 days.

Baker Hughes Company [BKR]: Deeper insight into the 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.

Insider trade positions for Baker Hughes Company [BKR]

There are presently around $27,529 million, or 92.00% of BKR stock, in the hands of institutional investors. The top three institutional holders of BKR stocks are: GENERAL ELECTRIC CO with ownership of 267,746,937, which is approximately -14.027% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 86,187,256 shares of the stock with an approximate value of $2.32 billion in BKR stocks shares; and VANGUARD GROUP INC, currently with $2.22 billion in BKR stock with ownership of nearly 4.896% 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 October and at the time of the October reporting period, where 328 institutional holders increased their position in Baker Hughes Company [NYSE:BKR] by around 106,024,767 shares. Additionally, 216 investors decreased positions by around 91,751,346 shares, while 64 investors held positions by with 823,342,841 shares. The mentioned changes placed institutional holdings at 1,021,118,954 shares, according to the latest SEC report filing. BKR stock had 74 new institutional investments in for a total of 22,217,163 shares, while 64 institutional investors sold positions of 9,749,186 shares during the same period.



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