Baker Hughes Company (BKR) Monthly Report
Publication Date: September 22, 2024
Company Overview
Baker Hughes Company (BKR), headquartered in Houston, Texas, is a leading entity in the global energy and industrial value chain. The company operates through two main segments: Oilfield Services & Equipment (OFSE), which includes essential services for oilfield operations such as exploration, drilling, and production; and Industrial & Energy Technology (IET), which focuses on gas technology equipment and asset performance management within the energy sector. Since rebranding from Baker Hughes, a GE company in October 2019, BKR has solidified its position in the Oil & Gas Equipment & Services industry. With total revenue of approximately $27.03 billion, the company showcases robust operational performance and significant growth potential, leading analysts to favor a strong buy recommendation for its stock.
Stock Performance and Analyst Insights
The current stock price for Baker Hughes stands at $36.04, with a projected target high of $50.00 and a mean target price of $43.01. This indicates a favorable outlook, suggesting considerable upside based on current valuation metrics. The company has 993,424,000 shares outstanding and a relatively low short interest of approximately 2.42%, reflecting minimal bearish sentiment in the market. The stock also consistently trades above its fifty-day moving average of $35.18, signaling potential short-term growth.
With an analyst rating averaging 2.0 out of 5, based on 23 evaluations, market confidence in Baker Hughes is evident. The analysis indicates a target low of $36.00 and a median price of $43.00, underscoring a favorable investment opportunity amidst positive financial projections. Investors may find this an auspicious time to explore positions in BKR, as its steady performance reflects resilience in the energy market.
Conclusion
Overall, Baker Hughes Company represents a solid investment choice within the energy sector. With strong revenue figures and positive analyst sentiment, the stock demonstrates not just stability but also potential for growth. The combination of substantial target prices and a supportive analyst consensus positions BKR as a valuable asset for investors looking to capitalize on developments in the energy landscape.
| Metric | Value |
|---|---|
| Market Cap | $36.1b |
| Total Debt | $5.9b |
| Total Cash | $2.3b |
| Shares Outstanding | 993.4m |
| Float Shares | 991.3m |
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