Baker Hughes shares hit 52-week high at $40.14 amid industry rally By Investing.com

In a remarkable rise in the energy sector, Baker Hughes (NASDAQ: ) stock has reached a 52-week high, reaching a price level of $40.14. This highlight reflects a robust year-over-year performance, with the company experiencing an impressive 20.38% increase in share value over the past year. The ascent to this high watermark underscores the company’s resilience and adaptability in a dynamic market environment as investors show increasing confidence in Baker Hughes’ strategic direction and its ability to capitalize on the changing demands of the energy industry.

In other recent news, Baker Hughes, a global energy technology company, reported record quarterly EBITDA in its third quarter 2024 earnings call, reflecting strong financial performance and strategic growth in the Integrated Energy Technology and Oilfield Services & Equipment segments. The company reported EBITDA growth of 20% year-on-year for the third consecutive quarter, with EBITDA margins reaching 17.5%, the highest since 2017. Despite a small revenue loss related to project delays, recovery is expected in Q4. and 1st quarter.

In addition, Baker Hughes secured significant contracts with Brazilian state-run oil company Petrobras to supply flexible piping systems to Brazil’s pre-salt oil fields. These systems, which are integrated into Petrobras’ efforts to limit CO2 emissions and increase oil recovery, are scheduled to begin delivery in mid-2026. Production of these systems will take place at Baker Hughes’ factory in Niteroi, Brazil, contributing to local production and strengthening the Brazilian economy and energy supply chain.

As the US presidential election approaches, analysts are predicting potential market impacts depending on the election outcome. Analysts suggest a bullish response for stock markets if former President Donald Trump prevails, given his promises to cut corporate taxes and reduce regulations. Conversely, a victory for Vice President Kamala Harris could see growth in sectors such as homebuilders and green energy companies, although potential tax increases could affect large corporations. It is the latest development in the financial and political landscape.

InvestingPro Insights

Baker Hughes’ recent achievement of a 52-week high is further supported by several key financial indicators and analyst insights. According to InvestingPro data, the company’s stock is trading at 98.8% of its 52-week high, confirming its strong market position. This performance is supported by solid fundamentals, including revenue of $27.3 billion over the last twelve months and healthy EBITDA growth of 15.93% over the same period.

InvestingPro Tips highlights that Baker Hughes has maintained dividend payments for an impressive 38 consecutive years, demonstrating long-term financial stability. In addition, the company operates with a moderate level of debt, which provides flexibility in operations and future investments. These factors contribute to the stock’s attractiveness, especially given its relatively low price volatility.

For investors seeking a deeper understanding of Baker Hughes’ potential, InvestingPro offers 8 additional tips that could provide valuable insight into the company’s future prospects. These tips, along with real-time metrics, can help investors make more informed decisions in the dynamic energy sector.

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