Baker Hughes CompanyNasdaq: BKR

No material news in the last 48 hours.

No material news in the last 48 hours.

Baker Hughes and Australian engineering firm Worley signed a non-exclusive memorandum of understanding to jointly develop and integrate lower-carbon LNG infrastructure across project development and execution. Separately, Baker Hughes extended and expanded its integrated well-construction contract with Petrobras for deepwater wells in Brazil's Santos Basin, deploying its AutoTrak rotary steerable system, logging-while-drilling tools, and Dynamus drill bits. The deals reinforce demand in the company's Industrial & Energy Technology and oilfield services segments. Baker Hughes shares trade up about 39.6% year-to-date, reaching a high near $62.77 on June 15, 2026. The MoU is a framework agreement rather than a binding revenue commitment, so the near-term financial contribution is uncertain, and the company still faces regulatory scrutiny over acquisitions. Next earnings are scheduled for July 22, 2026.

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Baker Hughes shares rose roughly 4.1% in the June 15, 2026 morning session after Israel and Iran exchanged direct military strikes over the weekend, pushing Brent crude briefly above $98 a barrel and lifting oilfield-services names on expectations of higher upstream activity. The stock had been trading around $63.39 on June 12 (52-week range $37.38-$70.41). The geopolitical spike adds to recent momentum that included a major LNG equipment award from QatarEnergy for the North Field West project and a Petrobras Santos Basin well-construction contract extension. The move matters because sustained higher oil prices typically boost demand for Baker Hughes' drilling and completion services. The bear case is that the rally is driven by a geopolitical premium that could reverse quickly if tensions de-escalate, while the company still faces EU antitrust scrutiny of a $13.6 billion acquisition and concerns over modest revenue growth at a rich valuation.

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Over the weekend of June 13, 2026, Israel and Iran exchanged direct military strikes on nuclear and military targets, triggering one of the largest single-day oil-price jumps since Russia's 2022 invasion of Ukraine, with Brent and U.S. crude both surging roughly 7%. Baker Hughes, an oilfield-services and industrial-energy-technology company, rallied about 4% intraday as higher crude prices and rising U.S. rig counts (active rigs around 563) sharpened investor focus on stronger drilling and services demand. The stock had already been strong, up roughly 34% year-to-date and trading near its 52-week high (~$69.67 set in April 2026). The risk/bear case is that oil-price spikes driven by geopolitical conflict are often short-lived and can reverse quickly if tensions de-escalate, and BKR management itself cautions against predicting oil prices. Separately, Baker Hughes remains under EU antitrust scrutiny over a $13.6 billion acquisition, and Citi cut its price target to $74 from $80 on June 3. Elevated valuation after the run-up adds downside sensitivity if the geopolitical premium fades.

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Baker Hughes held its 2026 annual shareholder meeting on May 19, where investors elected ten directors, approved the 2026 Long-Term Incentive Plan adding 9.5 million Class A shares, and ratified changes to the Employee Stock Purchase Plan. The stock rose 2.02% on May 20, 2026 from $65.47 to $66.79 despite Barclays downgrading to Equal Weight from Overweight on May 4. Bank of America had earlier raised its price target to $80 from $69 on May 3 following Q1 results, which showed consolidated EBITDA up 12% YoY to $1.158 billion and an industrial and energy technology backlog at a record $33.1 billion (orders up 54% YoY). Baker Hughes also agreed to divest its Waygate Technologies business to Hexagon for approximately $1.45 billion in cash. Analyst consensus remains a Buy with an average price target around $69.

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At Baker Hughes' 2026 Annual Meeting of Stockholders on May 19, 2026, shareholders approved the new 2026 Long-Term Incentive Plan and the Second Amended and Restated Employee Stock Purchase Plan, each adding 9.5 million Class A shares to their reserve. The ESPP share pool now totals 14,408,532 shares. All ten director nominees were re-elected, the executive compensation program was approved on a say-on-pay vote, and KPMG was ratified as auditor. The shareholder approvals come amid BKR's strong YTD performance up roughly 42%, trading near its 52-week high of $70.41. Analyst consensus is Buy with an average price target of $69.18.

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No material news in the last 48 hours.

Per 16 analysts, BKR holds a Buy consensus rating as of May 17, 2026, with a price target near $68-$69.18 versus a 52-week high of $70.41. Barclays downgraded BKR to Equal-Weight on May 8 while raising the price target from $62 to $74. Q1 2026 results showed revenue of $6.587B (+2% YoY, -11% sequential), net income of $930M (+131% YoY), and adjusted EPS of $0.58 versus $0.49 consensus. The IET segment delivered record orders of $4.9B (third consecutive quarter above $4B), including $1.4B in Power Systems orders tied to AI data center power demand, building a record $33.1B backlog. The board declared a $0.23 quarterly dividend paid May 15 to holders of record May 5. FY2026 revenue guidance is $26.2B-$28.3B, supported by $6.5B USD and EUR 3B in senior unsecured notes (March 11) to fund the proposed Chart Industries acquisition.

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Baker Hughes was downgraded to Equal-Weight by Barclays on May 8, 2026, though the price target was raised to $74 from $62. Bank of America raised its price target to $80 from $69 on May 4. Q1 2026 results showed revenue of $6,587M (+2% YoY) and net income of $930M (+131% YoY), with the Industrial and Energy Technology segment delivering record orders of $4.9B and record backlog of $33.1B (book-to-bill 1.5x). Adjusted EPS of $0.58 beat consensus of $0.49. The company is finalizing the $1.45 billion sale of Waygate Technologies to Hexagon, focusing on core oilfield services. Full-year revenue guidance is $26.2-$28.3 billion. Stock is up ~42% YTD reaching $70.41 52-week high.

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Baker Hughes was downgraded by Barclays to Equal-Weight on May 8, 2026, though the firm raised its price target to $74 from $62, citing stretched valuation after a 35.5% year-to-date gain. The downgrade follows a strong Q1 with revenue of $6.59 billion and net income of $930 million, up 131% YoY, plus adjusted EPS of $0.58 beating the $0.49 consensus. IET orders hit a record $4.9 billion and backlog reached $33.1 billion at a 1.5x book-to-bill, reinforcing the AI data center and LNG growth narrative. The company issued $6.5B in U.S. dollar notes and EUR3B in euro notes in March to help fund the pending Chart Industries acquisition, expected to close in 2H 2026 pending regulatory approvals. Risk: regulatory timing on Chart and oilfield services volatility.

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Baker Hughes May 8 rig count showed North America adding two rigs WoW to 672 total (548 US, 124 Canada), a modestly positive signal for service activity. The stock has been under pressure since a May 8 Barclays downgrade to Equal-Weight (PT $74) and a 4.6% intraday drop tied to falling crude prices on US-Iran peace agreement expectations. Q1 2026 results (April) had beaten with adjusted EPS of $0.58 vs $0.49 estimate and revenue of $6.59B. The company continues to execute on its portfolio reshuffle (Waygate divestiture, PSI sale to Crane, Cactus JV) targeting ~$3B in 2026 gross proceeds to help fund the Chart Industries acquisition.

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On May 8, 2026, Barclays downgraded Baker Hughes to Equal-Weight, though it raised its price target to $74 from $62. Shares fell 4.6% the same session as crude oil prices declined sharply on expectations of a potential US-Iran peace agreement. Earlier on May 4, BofA raised its PT to $80 from $69 and reiterated Buy. The May 8 US rig count rose by one to 548, with oil rigs up two to 410 and gas rigs down one to 129. The Board declared a $0.23 quarterly cash dividend payable May 15, 2026. Q1 2026 results showed revenue of $6.59B (up 2.5% YoY, beat $6.33B est) and adjusted EPS of $0.58 (up 17.5% above consensus), with IET segment delivering record orders of $4.9B and record backlog of $33.1B (1.5x book-to-bill).

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