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Baker Hughes

Baker Hughes is a global leader in oilfield services and oilfield equipment, with particularly strong presences in the artificial lift, specialty chemicals, and completions markets. It maintains modest exposure to offshore oil and gas production. The other half of its business focuses on industrial power generation, process solutions, and industrial asset management, with a high exposure to the liquid natural gas market specifically, as well as broader industrials end markets.

Baker Hughes Co

BUNKA SHUTTER CO ORD by Bunka Shutter Co.

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BANK IRELAND GRP EUR1 ORD by Bank Ireland Group PLC

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BANK IRELAND GRP UNSP/ADR by Bank Ireland Group PLC

PT Bank Rakyat Indonesia (Persero) Tbk

BLACK ROCK PETROLEUM CO by Black Rock Petroleum Company

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BKRW - United States Dollar

Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is gearing up to announce its quarterly earnings on Tuesday, 2024-10-22. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Baker Hughes will report an earnings per share (EPS) of $0.61.
Investors in Baker Hughes are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.08, which was followed by a 5.82% increase in the share price the next day.
Here's a look at Baker Hughes's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.49</td>
<td>0.40</td>
<td>0.48</td>
<td>0.40</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.57</td>
<td>0.43</td>
<td>0.51</td>
<td>0.42</td>
</tr>
<tr>
<td>Price Change %</td>
<td>6.0%</td>
<td>-1.0%</td>
<td>-5.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729519254_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Baker Hughes were trading at $36.4 as of October 18. Over the last 52-week period, shares are up 6.58%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Insights on Baker Hughes</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Baker Hughes.
With 19 analyst ratings, Baker Hughes has a consensus rating of Outperform. The average one-year price target is $43.42, indicating a potential 19.29% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Halliburton, Schlumberger and TechnipFMC, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Buy trajectory for Halliburton, with an average 1-year price target of $41.47, suggesting a potential 13.93% upside.</li>
<li>The consensus outlook from analysts is an Outperform trajectory for Schlumberger, with an average 1-year price target of $60.23, indicating a potential 65.47% upside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for TechnipFMC, with an average 1-year price target of $33.0, indicating a potential 9.34% downside.</li>
</ul>
<h3>Peers Comparative Analysis Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for Halliburton, Schlumberger and TechnipFMC, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Baker Hughes</td>
<td>Outperform</td>
<td>13.05%</td>
<td>$1.49B</td>
<td>3.74%</td>
</tr>
<tr>
<td>Halliburton</td>
<td>Buy</td>
<td>0.60%</td>
<td>$1.12B</td>
<td>7.22%</td>
</tr>
<tr>
<td>Schlumberger</td>
<td>Outperform</td>
<td>12.84%</td>
<td>$1.88B</td>
<td>5.32%</td>
</tr>
<tr>
<td>TechnipFMC</td>
<td>Buy</td>
<td>17.92%</td>
<td>$500.90M</td>
<td>6.24%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Baker Hughes ranks highest in gross profit among its peers. It is in the middle for consensus rating and return on equity. However, it lags behind in revenue growth compared to its peers.
<h3>Delving into Baker Hughes's Background</h3>
Baker Hughes is a global leader in oilfield services and oilfield equipment, with particularly strong presences in the artificial lift, specialty chemicals, and completions markets. It maintains modest exposure to offshore oil and gas production. The other half of its business focuses on industrial power generation, process solutions, and industrial asset management, with a high exposure to the liquid natural gas market specifically, as well as broader industrials end markets.
<h3>Financial Insights: Baker Hughes</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Baker Hughes's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 13.05%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Baker Hughes's net margin is impressive, surpassing industry averages. With a net margin of 8.11%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.74%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Baker Hughes's ROA stands out, surpassing industry averages. With an impressive ROA of 1.57%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.38, Baker Hughes adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/BKR/earnings">To track all earnings releases for Baker Hughes visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

What's Next: Baker Hughes's Earnings Preview

Barclays analyst David Anderson maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Overweight and lowers the price target from $42 to $41.

News

Price Target

Analyst Ratings

Barclays Maintains Overweight on Baker Hughes, Lowers Price Target to $41

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SHEL

TRGP

Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

BMO Capital analyst Phillip Jungwirth maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Outperform and raises the price target from $43 to $45.

BMO Capital Maintains Outperform on Baker Hughes, Raises Price Target to $45

CEIX

CGBS

CIVI

Shares of energy companies are trading lower, pulling back after recently rising amid Middle East tensions. China stimulus uncertainty may also be impacting the demand outlook.

<ul>
<li>Baker Hughes Integrated Compressor Line (ICL) technology to enhance gas swing storage capacity as part of the United Arab Emirates decarbonization strategy &nbsp;</li>
<li>Scope includes 10 ICL units to be installed at Margham Gas storage facility in the Emirate of Dubai</li>
</ul>
HOUSTON and LONDON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), an energy technology company, announced Tuesday its largest order ever of <a href="https://www.globenewswire.com/Tracker?data=C4BkSpRcuJG_ibjMUCfTfIYrjrpjSSRe9duW3WWUzi3sL1xArwasq6UwRZEui4vLhU6irL2t3zKAeSB6m6PEYFqWPf9XPLMHDGC-BKH3NbdzrFRNxEMa54gwnNnLm5TFyWAa707EhBKKQWJsIiK6ZipUOQPH8Xkm0WepM5laGqc=">Integrated Compressor Line (ICL)</a> units with Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to enhance the reliability of energy supply and support local decarbonization efforts. The order was booked in the third quarter of 2024.
The 10 ICL units – five for gas storage and five for dual-use injection boosting or gas export to the existing gas distribution system – will be installed at the Margham Gas storage facility in Dubai, significantly increasing its capacity. Through the adoption of the ICL technology, the project aims to achieve a high-reliability system with reduced emissions. The project will provide stability to Dubai's energy supply by strengthening the system's ability to switch between natural gas and solar power.

Contracts

Global

Baker Hughes Lands Largest Integrated Compressor Line Order In Company's History With Dubai Petroleum Establishment For And On Behalf Of Dubai Supply Authority, To Enhance The Reliability Of Energy Supply And Support Local Decarbonization Efforts

Baker Hughes's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>) short percent of float has fallen 5.79% since its last report. The company recently reported that it has 17.55 million shares sold short, which is 2.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.34 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> 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 is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Baker Hughes Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728322224_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Baker Hughes has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Baker Hughes's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Baker Hughes's peer group average for short interest as a percentage of float is 8.19%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Baker Hughes's Recent Short Interest

NPWR

NET Power Says Payments For Long-lead Materials Under Original Letter Of Limited Notice To Proceed Commenced In December 2023; Remainder Of Payments Under LNTP Are Expected To Continue To Be Made Through April 2026

On Sept 30, NET Power's Unit & Baker Hughes Energy Services Entered Into Variation Agreement No. 2; Pursuant To LNTP, Co Will Pay Baker Hughes Up To About $90M For Purchase Of Long-Lead Materials

Analysts' ratings for Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) over the last quarter vary from bullish to bearish, as provided by 19 analysts.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Baker Hughes, presenting an average target of $43.21, a high estimate of $50.00, and a low estimate of $38.00. This upward trend is evident, with the current average reflecting a 4.57% increase from the previous average price target of $41.32.
<img src="https://www.benzinga.com/files/images/story/2024/1727964024_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The perception of Baker Hughes by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Connor Lynagh</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$45.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$42.00</td>
<td>$44.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$42.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Connor Lynagh</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$42.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$42.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>James West</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Marc Bianchi</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$50.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Raises</td>
<td>Buy</td>
<td>$42.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$43.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Sean Meakim</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$43.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Lloyd Byrne</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$48.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Keith Mackey</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$46.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Stephen Gengaro</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$40.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Saurabh Pant</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$38.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Luke Lemoine</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$44.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Baker Hughes. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Baker Hughes compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Baker Hughes's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Baker Hughes's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BKR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Baker Hughes analyst ratings.</a>
<h2>Discovering Baker Hughes: A Closer Look</h2>
Baker Hughes is a global leader in oilfield services and oilfield equipment, with particularly strong presences in the artificial lift, specialty chemicals, and completions markets. It maintains modest exposure to offshore oil and gas production. The other half of its business focuses on industrial power generation, process solutions, and industrial asset management, with a high exposure to the liquid natural gas market specifically, as well as broader industrials end markets.
<h3>Financial Milestones: Baker Hughes's Journey</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Baker Hughes's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 13.05%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Baker Hughes's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.11%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Baker Hughes's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.74%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Baker Hughes's ROA stands out, surpassing industry averages. With an impressive ROA of 1.57%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Baker Hughes's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.38.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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The Latest Analyst Ratings For Baker Hughes

Morgan Stanley analyst Connor Lynagh maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Overweight and raises the price target from $42 to $45.

Morgan Stanley Maintains Overweight on Baker Hughes, Raises Price Target to $45

Citigroup analyst Scott Gruber maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Buy and lowers the price target from $44 to $42.

Citigroup Maintains Buy on Baker Hughes, Lowers Price Target to $42

CTRA

VIST

Shares of energy companies are trading higher amid a rise in oil after the Israeli military carried out an airstrike on Hezbollah headquarters in Beirut, Lebanon. Also, Israeli Prime Minister Netanyahu, in a speech to the UN, mentioned Hezbollah and said his country has "every right to remove this threat and return our citizens to their homes safely."

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Shares of oil gas companies are trading lower amid reports suggesting Saudi Arabia may raise output.

Wells Fargo analyst Roger Read upgrades Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) from Equal-Weight to Overweight and raises the price target from $40 to $42.

Upgrades

Wells Fargo Upgrades Baker Hughes to Overweight, Raises Price Target to $42

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KLXE

Shares of oil and gas companies are trading higher amid a rise in the price of oil after the Fed cut rates, which could lift the demand outlook. Also, ongoing tension in the Middle East could increase supply

UBS analyst Josh Silverstein maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Neutral and lowers the price target from $42 to $40.

UBS Maintains Neutral on Baker Hughes, Lowers Price Target to $40

Ratings for Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) were provided by 16 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $43.62, a high estimate of $50.00, and a low estimate of $38.00. Observing a 5.41% increase, the current average has risen from the previous average price target of $41.38. 
<img src="https://www.benzinga.com/files/images/story/2024/1726509644_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A comprehensive examination of how financial experts perceive Baker Hughes is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Connor Lynagh</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$42.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$42.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>James West</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Marc Bianchi</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$50.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Raises</td>
<td>Buy</td>
<td>$42.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Neil Mehta</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$43.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Sean Meakim</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$43.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Lloyd Byrne</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$48.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Keith Mackey</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$43.00</td>
<td>$39.00</td>
</tr>
<tr>
<td>Roger Read</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$40.00</td>
<td>$35.00</td>
</tr>
<tr>
<td>Charles Minervino</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$46.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Stephen Gengaro</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$45.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$40.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Saurabh Pant</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$38.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Luke Lemoine</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$44.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Lloyd Byrne</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Baker Hughes. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Baker Hughes compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Baker Hughes's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
For valuable insights into Baker Hughes's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BKR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Baker Hughes analyst ratings.</a>
<h2>Delving into Baker Hughes's Background</h2>
Baker Hughes is a global leader in oilfield services and oilfield equipment, with particularly strong presences in the artificial lift, specialty chemicals, and completions markets. It maintains modest exposure to offshore oil and gas production. The other half of its business focuses on industrial power generation, process solutions, and industrial asset management, with a high exposure to the liquid natural gas market specifically, as well as broader industrials end markets.
<h3>Key Indicators: Baker Hughes's Financial Health</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Positive Revenue Trend: Examining Baker Hughes's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 13.05% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.
Net Margin: Baker Hughes's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.11%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Baker Hughes's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 3.74%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Baker Hughes's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.57% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.38.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 16 Ratings For Baker Hughes

Morgan Stanley analyst Connor Lynagh maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Overweight and lowers the price target from $43 to $42.

Morgan Stanley Maintains Overweight on Baker Hughes, Lowers Price Target to $42

Earlier this month, Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) said that a <a href="https://www.benzinga.com/markets/equities/24/09/40687585/why-is-halliburton-stock-falling-today">cyberattack had disrupted its critical business applications</a>.
A lower overall revenue diversification puts the company at a disadvantage against the backdrop of a tepid commodity macro, according to RBC Capital Markets.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60b8b8f7e1e2bd0001d16400/keith-mackey">Analyst Keith Mackey</a> downgraded the rating for Halliburton from Outperform to Sector Perform, while slashing the price target from $44 to $37.
The Halliburton Thesis: While the company's revenue growth outpaced large cap OFS peers from 2021 to 2023, its revenues could lag by around 5% from 2024 to 2026, Mackey said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"Lower growth is largely connected to HAL&#8217;s 42% revenue weighting to North America" versus the average of 23% of rivals Schlumberger NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and Baker Hughes Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), the analyst wrote. Global rig counts are "increasing at decreasing rates," which puts companies with greater geographic and business diversity in better position to outperform, he added.
While Halliburton has achieved margin expansion and lowered its capital intensity, "a potential upward inflection in E&amp;P spending should be more evident in dedicated US providers," Mackey stated.
HAL Price Action: Shares of Halliburton had risen by 0.29% to $28.10 at the time of publication on Friday.
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