Jefferies analyst Lloyd Byrne assigned a Buy rating to Baker Hughes Company (BKR – Research Report) yesterday and set a price target of $39.00. The company’s shares closed last Friday at $31.37.
Byrne covers the Utilities sector, focusing on stocks such as Valero Energy, Chesapeake Energy, and Chevron. According to TipRanks, Byrne has an average return of 38.5% and a 57.38% success rate on recommended stocks.
In addition to Jefferies, Baker Hughes Company also received a Buy from BMO Capital’s Phillip Jungwirth in a report issued on February 2. However, on January 24, J.P. Morgan maintained a Hold rating on Baker Hughes Company (NASDAQ: BKR).
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Based on Baker Hughes Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.91 billion and a net profit of $182 million. In comparison, last year the company earned a revenue of $5.49 billion and had a net profit of $293 million
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BKR in relation to earlier this year. Most recently, in November 2022, Qasem Rami, the EVP, Digital Solutions of BKR sold 72,000.00 shares for a total of $2,247,120.00.
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Texas-based Baker Hughes Co. provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS).
Read More on BKR:
- Baker Hughes reports U.S. rig count down 12 to 759 rigs
- Baker Hughes and Fortescue Future Industries to Collaborate on Exploring Green Hydrogen and Geothermal Projects
- Baker Hughes, FFI sign MOU on green hydrogen, geothermal projects
- Baker Hughes price target raised to $39 from $33.30 at HSBC
- Baker Hughes Unveils New Digital Solutions for More Intelligent Operations and Cleaner Energy
