Baker Hughes Reports U.S. Rig Count Rises to 551
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Should l Buy BKR?
Baker Hughes reports that the U.S. rig count is up 5 from last week to 551 with oil rigs up 1 to 412, gas rigs up 5 to 130 and miscellaneous rigs down 1 to 9. U.S. Rig Count is down 35 rigs from last year's count of 586 with oil rigs down 68, gas rigs up 30 and miscellaneous up 3. The U.S. Offshore Rig Count is up 2 to 16, up 2 year-over-year. The Canada Rig Count is down 4 from last week to 228 with oil rigs down 1 to 155, gas rigs down 3 to 73 and miscellaneous unchanged at 0. The Canada Rig Count is down 21 from last year's count of 249 with oil rigs down 22, gas rigs up 1 and miscellaneous rigs unchanged.
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Analyst Views on BKR
Wall Street analysts forecast BKR stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKR is 55.17 USD with a low forecast of 52.00 USD and a high forecast of 61.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 57.360
Low
52.00
Averages
55.17
High
61.00
Current: 57.360
Low
52.00
Averages
55.17
High
61.00
About BKR
Baker Hughes Company is an energy technology company with a portfolio of technologies and services that span the energy and industrial value chain. The Company operates in two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). OFSE segment provides products and services for onshore and offshore oilfield operations across the lifecycle of a well, ranging from exploration, appraisal, and development, to production, rejuvenation, and decommissioning. OFSE is organized into four product lines: Well Construction; Completions, Intervention, and Measurements; Production Solutions, and Subsea and Surface Pressure Systems. IET segment provides technology solutions and services for mechanical-drive, compression and power-generation applications across the energy industry, including oil and gas, liquefied natural gas (LNG) operations, downstream refining and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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