In a report issued on July 17, Douglas Becker from Northland Securities maintained a Hold rating on Baker Hughes Company (BKR), with a price target of $17.00. The company’s shares closed last Friday at $16.37.
According to TipRanks.com, Becker is a 4-star analyst with an average return of 18.0% and a 42.9% success rate. Becker covers the Services sector, focusing on stocks such as Schlumberger, Halliburton, and MRC Global.
Currently, the analyst consensus on Baker Hughes Company is a Strong Buy with an average price target of $20.25, implying a 20.6% upside from current levels. In a report issued on July 16, Scotiabank also downgraded the stock to Hold with a $18.00 price target.
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Based on Baker Hughes Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.74 billion and GAAP net loss of $201 million. In comparison, last year the company earned revenue of $5.99 billion and had a GAAP net loss of $9 million.
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Baker Hughes Co. is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention. The OFE segment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the subsea wellhead to the surface production facilities. The TPS segment provides equipment and related services for mechanical-drive, compression and power-generation applications. The DS segment provides operating technologies helping to improve the health, productivity, and safety of asset intensive industries and enable the Industrial Internet of Things. The company was founded in April, 1987 and is headquartered in Houston, TX.
