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BKR Stock Forecast: All the More Reason to Consider Baker Hughes Co (BKR) Now

Baker Hughes Co (NASDAQ: BKR) is -1.73% lower on its value in year-to-date trading and has touched a low of $26.81 and a high of $37.58 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BKR stock was last observed hovering at around $33.44 in the last trading session, with the day’s gains setting it 0.15%.

Currently trading at $33.59, the stock is 4.52% and 9.79% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.87 million and changing 0.45% at the moment leaves the stock 0.87% off its SMA200. BKR registered 16.83% gain for a year compared to 6-month loss of -4.90%. The firm has a 50-day simple moving average (SMA 50) of $1.45 and a 200-day simple moving average (SMA200) of $9.35.

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The stock witnessed a 12.12% gain in the last 1 month and extending the period to 3 months gives it a -1.73%, and is 0.90% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.60% over the week and 1.84% over the month.

Baker Hughes Co (BKR) has around 58000 employees, a market worth around $33.62B and $25.51B in sales. Current P/E ratio is 17.55 and Fwd P/E is 13.06. Profit margin for the company is 7.62%. Distance from 52-week low is 25.29% and -10.61% from its 52-week high. The company has generated returns on investments over the last 12 months (8.92%).

Baker Hughes Co quarterly earnings per share for the current quarter are estimated at $0.41 with sales reaching $6.37B over the same period.The EPS is expected to grow by 28.82% this year, but quarterly earnings will post 7.90% year-over-year. Quarterly sales are estimated to grow 11.50% in year-over-year returns.

Baker Hughes Co (BKR) Top Institutional Holders

1,166 institutions hold shares in Baker Hughes Co (BKR), with institutional investors hold 97.52% of the company’s shares. The shares outstanding are 1.00B, and float is at 999.23M with Short Float at 2.48%. Institutions hold 97.36% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 122.88 million shares valued at $3.88 billion. The investor’s holdings represent 14.83% of the BKR Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 94.76 million shares valued at $3.0 billion to account for 11.44% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 90.91 million shares representing 10.97% and valued at over $2.87 billion, while Capital World Investors holds 9.28% of the shares totaling 76.87 million with a market value of $2.43 billion.

Baker Hughes Co (BKR) Insider Activity

The most recent transaction is an insider sale by Apostolides James E,the company’sSVP, Enterprise Op Excellence. SEC filings show that Apostolides James E sold 10,000 shares of the company’s common stock on Mar 05 ’24 at a price of $29.44 per share for a total of $0.29 million. Following the sale, the insider now owns 14451.0 shares.

Baker Hughes Co disclosed in a document filed with the SEC on Dec 04 ’23 that BORRAS MARIA C (EVP, Oilfield Services & Equip) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Dec 04 ’23 and was made at $33.53 per share for $0.34 million. Following the transaction, the insider now directly holds 59463.0 shares of the BKR stock.

Still, SEC filings show that on Nov 01 ’23, BORRAS MARIA C (EVP, Oilfield Services & Equip) disposed off 10,000 shares at an average price of $34.49 for $0.34 million. The insider now directly holds 59,463 shares of Baker Hughes Co (BKR).

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