The Benchmark Company slashes price target on Baker Hughes Company [BKR] – find out why.



Baker Hughes Company [NASDAQ: BKR] surged by $0.55 during the normal trading session on Tuesday and reaching a high of $25.94 during the day while it closed the day at $25.59. The company report on December 16, 2021 that Baker Hughes to Provide CO2 Compression Equipment for Santos Moomba Carbon Capture & Storage Project in Australia.

Baker Hughes will provide proven gas turbine and compressor technology.

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Moomba carbon capture and storage (CCS) project aims to be one of the largest in the world.

Baker Hughes Company stock has also gained 4.11% of its value over the past 7 days. However, BKR stock has inclined by 0.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.96% and gained 6.36% year-on date.

The market cap for BKR stock reached $26.56 billion, with 851.00 million shares outstanding and 783.28 million shares in the current float. Compared to the average trading volume of 8.96M shares, BKR reached a trading volume of 7689592 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $29.52 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.

The Benchmark Company have made an estimate for Baker Hughes Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 19, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on September 09, 2021, representing the official price target for Baker Hughes Company stock. Previously, the target price had yet another raise from $28 to $31, while Cowen kept a Outperform rating on BKR stock.

The Average True Range (ATR) for Baker Hughes Company is set at 0.78, with the Price to Sales ratio for BKR stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 4.17. Price to Free Cash Flow for BKR in the course of the last twelve months was 40.92 with Quick ratio for the last quarter at 1.20.

BKR stock trade performance evaluation

Baker Hughes Company [BKR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.11. With this latest performance, BKR shares gained by 6.89% in over the last four-week period, additionally plugging by 14.96% over the last 6 months – not to mention a rise of 20.37% 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 60.83, with the RSI for the last a single of trading hit 67.03, and the three-weeks RSI is set at 57.39 for Baker Hughes Company [BKR]. The present Moving Average for the last 50 days of trading for this stock 24.42, while it was recorded at 24.58 for the last single week of trading, and 23.32 for the last 200 days.

Baker Hughes Company [BKR]: An insightful look at the core fundamentals

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.

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Baker Hughes Company [BKR]: Insider Ownership positions

There are presently around $24,949 million, or 97.10% of BKR stock, in the hands of institutional investors. The top three institutional holders of BKR stocks are: GENERAL ELECTRIC CO with ownership of 214,026,897, which is approximately -20.064% of the company’s market cap and around 6.17% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 101,199,348 shares of the stock with an approximate value of $2.53 billion in BKR stocks shares; and VANGUARD GROUP INC, currently with $2.24 billion in BKR stock with ownership of nearly 8.923% of the company’s market capitalization.

285 institutional holders increased their position in Baker Hughes Company [NASDAQ:BKR] by around 88,023,418 shares. Additionally, 241 investors decreased positions by around 94,422,626 shares, while 76 investors held positions by with 813,912,481 shares. The mentioned changes placed institutional holdings at 996,358,525 shares, according to the latest SEC report filing. BKR stock had 60 new institutional investments in for a total of 8,118,896 shares, while 74 institutional investors sold positions of 5,371,290 shares during the same period.