Baker Hughes Company’s Stock Price Drops to $34.77, Showing a Decrease of 3.55%

Baker Hughes Company (BKR)

34.77 USD -1.28 (-3.55%) Volume: 13.81M

Baker Hughes Company’s stock price is currently standing at 34.77 USD, experiencing a drop of -3.55% this trading session with a trading volume of 13.81M. Despite the recent downturn, BKR’s stock has seen a positive percentage change YTD of +1.73%, indicating a resilient performance in the market.

Latest developments on Baker Hughes Company

Today, Baker Hughes saw a surge in its stock price after Wells Fargo upgraded the company from Equal Weight to Overweight. This positive rating came alongside news of the Public Sector Pension Investment Board selling over a million shares of Baker Hughes. Additionally, Baker Hughes was raised to Buy at Wells Fargo, while competitor NOV was downgraded to Sell equivalent. Looking ahead, the company’s outlook seems promising as advancements in monitoring technology are expected to extend the service life of its flexible risers. With Wells Fargo also raising Baker Hughes’ price target, investors are optimistic about the future growth potential of the company.

A look at Baker Hughes Company Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Baker Hughes has a positive long-term outlook. With high scores in Growth, Value, Dividend, Resilience, and Momentum, the company is positioned well for future success. The Growth score of 5 indicates strong potential for expansion and development within the oilfield products and services sector. Additionally, the Value score of 4 suggests that Baker Hughes is currently trading at an attractive price relative to its intrinsic value, making it an appealing investment option. The company’s solid scores in Dividend, Resilience, and Momentum further support its promising outlook in the market.

Baker Hughes, a company that provides oilfield products and services, has received favorable ratings across various factors according to the Smartkarma Smart Scores. These scores reflect the company’s strong position in the industry and its potential for continued growth and stability. With a diverse range of offerings including surface logging, drilling, pipeline operations, and petroleum engineering, Baker Hughes serves the oil and gas industries on a global scale. Investors may find confidence in the company’s high scores in Growth, Value, Dividend, Resilience, and Momentum, indicating a positive trajectory for Baker Hughes in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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