Baker Hughes Company 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). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for oil and natural gas, and oilfield service companies. The OFE segment provides subsea and surface pressure control and production systems and services, capital drilling equipment and services, and flexible pipe systems for offshore and onshore applications; and provides well intervention solutions, as well as services related to onshore and offshore drilling and production operations. The TPS segment provides equipment and related services for mechanical-drive, compression, and power-generation applications across the oil and gas industry. Its product portfolio includes drivers, compressors, and turnkey solutions; and pumps, valves, and compressed natural gas and small-scale liquefied natural gas solutions. This segment serves upstream, midstream, onshore and offshore, and industrial, as well as engineering, procurement, and construction companies. The DS segment provides sensor-based measurement, non-destructive testing and inspection, turbine, generator and plant controls, and condition monitoring for oil and gas, power generation, aerospace, metals, and transportation industries. Baker Hughes Company has a strategic collaboration with Air Products and Chemicals, Inc. to develop hydrogen compression systems. The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019. Baker Hughes Company is based in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: bakerhughes.com
Date | Price Target | Rating | Analyst |
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9/25/2024 | $40.00 → $42.00 | Equal Weight → Overweight | Wells Fargo |
7/29/2024 | $46.00 → $50.00 | Buy | TD Cowen |
1/29/2024 | Outperform → Peer Perform | Wolfe Research | |
1/25/2024 | $46.00 → $49.00 | Outperform | TD Cowen |
7/12/2023 | $38.00 | Buy | BofA Securities |
6/7/2023 | $38.00 | Overweight | CapitalOne |
4/19/2023 | $31.00 | Neutral | UBS |
3/15/2023 | $32.00 | Neutral → Overweight | JP Morgan |
2/16/2023 | $34.00 → $43.00 | Neutral → Overweight | Piper Sandler |
1/19/2023 | $36.00 | Buy | The Benchmark Company |
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4 analysts have shared their evaluations of Baker Hughes (NASDAQ:BKR) during the recent three months, expressing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 1 0 0 0 Last 30D 1 1 0 0 0 1M Ago 1 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 0 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $42.0, a high estimate of $46.00, and a low estimate of $38.00. A negative shift in sentiment is evident as anal
B of A Securities analyst Saurabh Pant maintains Baker Hughes (NASDAQ:BKR) with a Buy and lowers the price target from $40 to $38.
Piper Sandler analyst Luke Lemoine maintains Baker Hughes (NASDAQ:BKR) with a Overweight and lowers the price target from $45 to $44.
Baker Hughes's (NYSE:BKR) short percent of float has risen 11.53% since its last report. The company recently reported that it has 25.46 million shares sold short, which is 3.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.76 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest
Wall Street experienced a lackluster session during midday trading in New York, with major indices inching slightly lower despite the arrival of positive inflation data. In May 2024, the Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s key measure of inflation, fell to its lowest level since March 2021, recording an annual rate of 2.6%, which aligned with economists’ predictions. This inflation report further indicates that price pressures are moving towards the Fed’s 2% target, reinforcing market expectations for potential interest rate cuts. However, there is more caution in the market reactions this time, potentially because investors are evaluating the p
Jefferies analyst Lloyd Byrne maintains Baker Hughes (NASDAQ:BKR) with a Buy and raises the price target from $45 to $46.
Over the past five days, the S&P 500 index dipped by 0.17%. The technology sector, represented by the SPDR Select Sector Fund – Technology (NYSE:XLK), declined by 2.23%. In stark contrast, the energy sector — tracked by the SPDR Select Sector Fund – Utilities (NYSE:XLU) — surged by 2.20%. This divergence highlights the energy sector as a bright spot worth watching. Here are five energy stocks that have stood out with their recent performance: Baker Hughes Co (NASDAQ:BKR)Baker Hughes soared by 7.25%, reflecting strong momentum and solid positioning within the energy market. The company's focus on advanced technology and services for oil and gas exploration makes it a vital player in
- Reuters
CarbonEdge™ connects subsurface and surface data across carbon capture, utilization and storage (CCUS) infrastructureSolution draws on Baker Hughes' technology, long-standing domain expertise across its diverse portfolio ready to serve entire CCUS value chainWabash Valley Resources will leverage CarbonEdge for measurement, monitoring, and verification of CO2 and collaborate with Baker Hughes on the solution's continued development HOUSTON and LONDON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR), an energy technology company, announced Thursday the launch of CarbonEdge™, powered by Cordant™, the first end-to-end, risk-based digital platform for CCUS operations that provides
HOUSTON and LONDON, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) will announce the results of the third quarter ending Sept. 30, 2024, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, Oct. 22, 2024. A webcast to discuss the results will be held Wednesday, Oct. 23, 2024, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast. About Baker HughesBaker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built o
Amerino Gatti appointed as executive vice president of Oilfield Services & Equipment (OFSE) business segmentMaria Claudia Borras appointed as chief growth & experience officerMuzzamil Khider Ahmed appointed as chief people & culture officer HOUSTON and LONDON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ:BKR) ("Baker Hughes" or the "Company") announced Tuesday several changes to its leadership team, effective by Oct. 1. These changes are designed to continue delivering Baker Hughes' successful strategy and executing for long-term growth, meeting customer needs in the rapidly evolving energy and industrial segments. Amerino Gatti is appointed executive vice president (E
FORNEBU, Norway, Aug. 13, 2024 /PRNewswire/ -- Reference is made to Akastor ASA's (OSE: AKAST) press release 3 June 2024 concerning its 50% owned affiliate HMH Holding B.V. ("HMH") and the confidential first draft registration statement on Form S-1 (the "Registration Statement") that was submitted with the U.S. Securities and Exchange Commission ("SEC") relating to a proposed initial public offering of HMH Holding Inc.'s shares. As part of the customary SEC review process, HMH has submitted an updated draft Registration Statement which is publicly filed with the SEC, which means that the content of the draft Registration Statement now is publicly available on SEC's online database (EDGAR). H
Second-quarter highlights Orders of $7.5 billion, including $3.5 billion of IET orders.RPO of $33.5 billion, including record IET RPO of $30.2 billion.Revenue of $7.1 billion, up 13% year-over-year.Net income attributable to the Company of $579 million.GAAP diluted EPS of $0.58 and adjusted diluted EPS* of $0.57.Adjusted EBITDA* of $1,130 million, up 25% year-over-year.Cash flows from operating activities of $348 million and free cash flow* of $106 million.Returns to shareholders of $375 million, including $166 million of share repurchases. HOUSTON and LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ:BKR) ("Baker Hughes" or the "Company") announced resul
HOUSTON and LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on Aug. 16, 2024, to holders of record on Aug. 6, 2024. In line with our stated goal to responsibly grow the dividend over time, the dividend reflects a 5% increase, or $0.01, compared to the same quarter last year. Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a cent
HOUSTON and LONDON, June 17, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) will announce the results of the second quarter ending June 30, 2024, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Thursday, July 25, 2024. A webcast to discuss the results will be held Friday, July 26, 2024, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast. About Baker HughesBaker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a
Multi-year project will see Baker Hughes provide solutions in pre-salt and post-salt fields offshore BrazilBaker Hughes' comprehensive, integrated approach focuses on operational excellence, localization HOUSTON, June 10, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR), an energy technology company, announced Monday a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil. The multi-year project, set to start in the first half of 2025, will be managed with Baker Hughes' integrated solutions portfolio to optimize performance for Petrobras. Baker Hughes' integrated approach will deploy wireline, coiled tubin
Mathew Brings 30 Years of Expertise in Software Product Development and Strategy Tekion, innovator of the first cloud-native platform serving the entire automotive retail ecosystem, today announced Binu Mathew as the company's Chief Technology Officer (CTO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240606127524/en/Binu Mathew joins Tekion as Chief Technology Officer, bringing 30 years of experience in software product development and strategy. (Graphic: Business Wire) "We have a tremendous opportunity to meet the automotive industry's demand for reliable generative AI. Tekion is leading the way in fulfilling this need,"
FORNEBU, Norway, June 3, 2024 /PRNewswire/ -- Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH Holding B.V. ("HMH") has today announced that its subsidiary HMH Holding Inc. has submitted a confidential first draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to a proposed initial public offering of HMH Holding Inc.'s shares. This filing represents the first step of a possible US listing of HMH. The size and price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the completion of the SEC review process, which will likely be during the second half of 2024, subject t
Second-quarter highlights Orders of $7.5 billion, including $3.5 billion of IET orders.RPO of $33.5 billion, including record IET RPO of $30.2 billion.Revenue of $7.1 billion, up 13% year-over-year.Net income attributable to the Company of $579 million.GAAP diluted EPS of $0.58 and adjusted diluted EPS* of $0.57.Adjusted EBITDA* of $1,130 million, up 25% year-over-year.Cash flows from operating activities of $348 million and free cash flow* of $106 million.Returns to shareholders of $375 million, including $166 million of share repurchases. HOUSTON and LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ:BKR) ("Baker Hughes" or the "Company") announced resul
HOUSTON and LONDON, July 25, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on Aug. 16, 2024, to holders of record on Aug. 6, 2024. In line with our stated goal to responsibly grow the dividend over time, the dividend reflects a 5% increase, or $0.01, compared to the same quarter last year. Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a cent
First-quarter highlights Orders of $6.5 billion, including $2.9 billion of IET orders.Revenue of $6.4 billion, up 12% year-over-year.Net income attributable to the Company of $455 million.GAAP diluted EPS of $0.45 and adjusted diluted EPS* of $0.43.Adjusted EBITDA* of $943 million, up 21% year-over-year.Cash flows from operating activities were $784 million and free cash flow* was $502 million.Returns to shareholders of $368 million, including $158 million of share repurchases. HOUSTON and LONDON, April 23, 2024 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ:BKR) (Baker Hughes or the Company) announced results today for the first quarter of 2024. "2024 has gotten off to a good s
HOUSTON and LONDON, April 23, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.21 per share of Class A common stock payable on May 16, 2024, to holders of record on May 6, 2024. In line with our stated goal to responsibly grow the dividend over time, the dividend reflects an 11% increase, or $0.02, compared to the same quarter last year. Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on
HOUSTON and LONDON, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) announced today that the Baker Hughes Board of Directors declared an increased quarterly cash dividend of $0.21 per share of Class A common stock payable on Feb. 23, 2024, to holders of record on Feb. 13, 2024. In line with our stated goal to responsibly grow the dividend over time, the dividend increase reflects a 5% growth rate, or $0.01, over the previous quarter's dividend and an 11% increase, or $0.02, compared to the same quarter last year. Baker Hughes expects to fund its quarterly cash dividend from cash generated from operations. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology c
Fourth-quarter highlights IET orders of $3,030 million, the fifth consecutive quarter above $3 billion.Net income attributable to the Company of $439 million, up $257 million year-over-year.GAAP diluted EPS of $0.43 and adjusted diluted EPS* of $0.51.Adjusted EBITDA* of $1,091 million, above $1 billion for the first time in company history.Cash flows from operating activities were $932 million and free cash flow* was $633 million.Shareholder distributions of $521 million, including $320 million of share repurchases. Full-year highlights IET orders of $14.18 billion, 12% higher than last year's prior record level.Net income attributable to the Company of $1,943 million, up $2,544 million y
HOUSTON and LONDON, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) will announce the results of the fourth quarter and full year ending Dec. 31, 2023, via press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Tuesday, Jan. 23, 2024. A webcast to discuss the results will be held Wednesday, Jan. 24, 2024, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worl
Orders of $8.5 billion for the quarter, up 40% year-over-year.Revenue of $6.6 billion for the quarter, up 24% year-over-year.Net income attributable to Baker Hughes Company of $518 million for the quarter, up $534 million year-over-year. Adjusted net income attributable to Baker Hughes* (a non-GAAP measure) of $427 million for the quarter, up $163 million year-over-year.GAAP diluted earnings per share of $0.51 for the quarter. Adjusted diluted earnings per share* (a non-GAAP measure) was $0.42 for the quarter.Adjusted EBITDA* (a non-GAAP measure) of $983 million for the quarter, up 30% year-over-year.Cash flows generated from operating activities were $811 million for the quarter. Free cash
HOUSTON and LONDON, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) announced today that the Baker Hughes Board of Directors declared a quarterly cash dividend of $0.20 per share of Class A common stock payable on Nov. 17, 2023, to holders of record on Nov. 6, 2023. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com. For more information,
HOUSTON and LONDON, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR) will announce the results of the third quarter ending Sept. 30, 2023, via a press release at 5 p.m. Eastern Time (4 p.m. Central Time) on Wednesday, Oct. 25, 2023. A webcast to discuss the results will be held Thursday, Oct. 26, 2023, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast. About Baker Hughes:Baker Hughes (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Bui
Mathew Brings 30 Years of Expertise in Software Product Development and Strategy Tekion, innovator of the first cloud-native platform serving the entire automotive retail ecosystem, today announced Binu Mathew as the company's Chief Technology Officer (CTO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240606127524/en/Binu Mathew joins Tekion as Chief Technology Officer, bringing 30 years of experience in software product development and strategy. (Graphic: Business Wire) "We have a tremendous opportunity to meet the automotive industry's demand for reliable generative AI. Tekion is leading the way in fulfilling this need,"
Valve Sales Inc. (VSI), and Baker Hughes have partnered to distribute, service, and repair the complete line of Consolidated™ pressure relief valves. VSI's service and distribution agreement with Consolidated covers the entire state of Oklahoma, southern Kansas, and the Northwest corner of Arkansas. VSI's Tulsa-based Center of Operational Excellence is Consolidated's newest Green Tag Center™. TULSA, Okla., Sept. 1, 2022 /PRNewswire-PRWeb/ -- Valve Sales Inc. (VSI), and Baker Hughes have partnered to distribute, service, and repair the complete line of Consolidated™ pressure relief valves. VSI's service and distribution agreement with Consolidated covers the entire state of Oklahoma, southern
BENTONVILLE, Ark., Aug. 16, 2021 /PRNewswire/ -- Michael Baker International, a global leader in engineering, planning and consulting services, announced today that Mike Stengel, P.E., is taking on a new leadership position within the firm's Gulf Coast Region as he leads the opening of a new office in Bentonville, Arkansas. As Vice President and Office Executive, Mr. Stengel will focus on managing the firm's relationship with the Arkansas Department of Transportation (ARDOT) and expanding its client roster. The addition of this new office supports the firm's focus on expanding its business in the high growth market of Northwest Arkansas.
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Wells Fargo upgraded Baker Hughes from Equal Weight to Overweight and set a new price target of $42.00 from $40.00 previously
TD Cowen reiterated coverage of Baker Hughes with a rating of Buy and set a new price target of $50.00 from $46.00 previously
Wolfe Research downgraded Baker Hughes from Outperform to Peer Perform
TD Cowen reiterated coverage of Baker Hughes with a rating of Outperform and set a new price target of $49.00 from $46.00 previously
BofA Securities resumed coverage of Baker Hughes with a rating of Buy and set a new price target of $38.00
CapitalOne initiated coverage of Baker Hughes with a rating of Overweight and set a new price target of $38.00
UBS initiated coverage of Baker Hughes with a rating of Neutral and set a new price target of $31.00
JP Morgan upgraded Baker Hughes from Neutral to Overweight and set a new price target of $32.00
Piper Sandler upgraded Baker Hughes from Neutral to Overweight and set a new price target of $43.00 from $34.00 previously
The Benchmark Company initiated coverage of Baker Hughes with a rating of Buy and set a new price target of $36.00
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