In a report issued on October 16, Kurt Hallead from RBC Capital maintained a Buy rating on Baker Hughes Company (BKR), with a price target of $20.00. The company’s shares closed last Friday at $13.14.
According to TipRanks.com, Hallead is ranked 0 out of 5 stars with an average return of -18.6% and a 24.9% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.
Currently, the analyst consensus on Baker Hughes Company is a Strong Buy with an average price target of $20.08.
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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.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BKR in relation to earlier this year.
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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.
