2024-07-09 07:32:37 ET
Summary
- Baker Hughes Company shares have been flat in the past year despite a strong market, with concerns about LNG cycle longevity and subdued drilling environment.
- Political developments have improved for BKR, with a District Court Judge halting a freeze on LNG export development, potentially benefiting the company.
- Baker Hughes will be reporting Q2 results soon, with analysts forecasting earnings of $0.49 and $6.8 billion in revenue, but I am concerned about elevated expectations.
Shares of the Baker Hughes Company ( BKR ) have been a disappointing performer over the past year, trading essentially flat despite a buoyant equity market, given concerns about the longevity of the LNG cycle and subdued drilling environment. Since recommending shares as a “buy” in January , BKR has returned 15%, essentially in-line with the market’s 14% gain. With updated financials and political activity on LNG, now is a good time to determine if BKR can outperform the market or if investors should sell shares after its market-like performance this year....
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Baker Hughes: Slowing LNG Activity A Risk Ahead Of Q2 Results (Rating Downgrade)