Street Calls of the Week
Baker Hughes Co (BKR) stock reached a new 52-week high, trading at 49.41 USD. The company, with a market capitalization of $47 billion, maintains a P/E ratio of 14.8 and offers investors a 1.93% dividend yield, having maintained dividend payments for an impressive 39 consecutive years. This milestone reflects a significant upward trajectory for the company, marking a 35.77% increase over the past year. The oilfield services giant has seen its stock price steadily climb, buoyed by strong financial performance and favorable market conditions. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with the company maintaining a "GREAT" overall financial health score. This 52-week high underscores investor confidence and the company’s robust position within the energy sector. InvestingPro has identified 8 additional key investment tips for Baker Hughes, available exclusively to subscribers through the comprehensive Pro Research Report.
In other recent news, Baker Hughes has announced a multi-year agreement with Petrobras to extend the deployment of its Blue Marlin and Blue Orca stimulation vessels in Brazil’s offshore oil and gas fields. This extension will facilitate chemical treatments to stimulate wells and support well construction through gravel pack and frac pack operations. Furthermore, Baker Hughes has received an order from Bechtel Energy Inc. to supply main liquefaction equipment for Train 4 of NextDecade’s Rio Grande LNG facility in Texas, which will enhance the facility’s liquefied natural gas production capacity by approximately 6 million tonnes per annum.
Additionally, Baker Hughes has signed a 90-month service agreement with bp for the Tangguh LNG plant in Indonesia. This deal includes the provision of spare parts, repair services, and field service engineering support for critical turbomachinery. In terms of analyst ratings, Stifel has reiterated a Buy rating on Baker Hughes stock, emphasizing the company’s improved margin profile, while Melius Research has initiated coverage with a Buy rating and a $60 price target. These developments highlight Baker Hughes’ ongoing strategic partnerships and expansion in the energy sector.
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