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Up 25% in the Past 3 Months, is Baker Hughes Still a Buy? -Breaking

by Mike Robinson

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© Reuters. Baker Hughes is Still worth a buy, up 25% over the past three months

These shares were owned by Baker Hughes Oilfield services firm (BKR), have seen significant gains in their stock prices over the past three month. However, the company’s third-quarter results lagged analyst estimates, raising investors’ concerns. Can the stock’s momentum be sustained given the industry’s low growth? Let’s discuss.Baker Hughes Company (NYSE:) in Houston, Tex., is an energy technology company that serves energy and industrial customers worldwide. It operates through four segments: Oilfield Services (OFS); Oilfield Equipment (OFE); Turbomachinery & Process Solutions (TPS); and Digital Solutions (DS). The company also has a strategic partnership with Air Products and Chemicals, Inc., to develop hydrogen compression system.

The stock has surged 10.8% in price over the past month and 26.5% over the past three months to close yesterday’s trading session at $25.35, driven by investors’ optimism about the company’s differentiated AI-based technology solutions. However, the company’s lower-than-expected third-quarter results caused investors some concern. After the quarterly results, which showed a disappointing earnings surprise, investors were concerned that Wednesday’s stock price would fall 4%.

The company’s $5.09 billion in third-quarter revenue fell short of the $5.34 billion consensus estimate, due to the current supply chain crisis and high raw material costs. These conditions could negatively impact the company’s share price in the near term.

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