Baker Hughes Company (BKR) Stock Price & How to Invest

Baker Hughes operates two segments. Oilfield Services & Equipment (OFSE) provides drilling, completions, production, and equipment to upstream oil and gas operators, and moves with the traditional exploration-and-production spending cycle. Industrial & Energy Technology (IET) supplies rotating equipment, gas turbines, compressors, and turbomachinery for LNG export facilities, gas infrastructure, floating production (FPSO) projects, and increasingly for power generation at AI data centers. The company acquired Chart Industries in 2025 for about $13.6 billion to deepen its LNG and decarbonization equipment offering.

The investment picture centers on the shift in mix toward IET. OFSE revenue has been roughly flat to down as upstream spending softens and after some asset dispositions, while IET has grown double digits on record orders and a backlog above $33 billion. That backlog gives multi-year revenue visibility that most oilfield-services peers lack, and management has framed data-center power (its NovaLT turbines) plus continued LNG buildout as durable long-cycle drivers. The trade-off is that BKR carries a valuation richer than pure oilfield peers, reflecting the higher-quality IET earnings stream.

OFSE remains tied to upstream oil and gas capital spending, which can fall quickly when commodity prices weaken, and Middle East regional instability and asset dispositions have already pressured that segment. IET's growth depends heavily on continued LNG project sanctioning and data-center power buildout, both of which can be delayed, cancelled, or repriced. Large equipment orders carry execution, supply-chain, and timing risk that can swing quarterly results. Integrating the Chart Industries acquisition adds execution and leverage risk. The stock trades at a premium to pure oilfield-services peers, so any slowdown in IET orders could compress that valuation.

22 analysts publish price targets on BKR, averaging $71.27 against a $60.49 price as of August 2026, or +17.8%. The published targets run from $51.00 to $85.00, a moderate spread, and the ratings split 18 buy, 4 hold, 1 sell. Over the last six months there have been 7 raises and 5 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full BKR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Baker Hughes Company. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Record IET backlog and LNG demand. The Industrial & Energy Technology segment ended Q1 2026 with a record backlog around $33 billion and record quarterly orders near $4.9 billion, the third straight quarter above $4 billion. The most optimistic published target, $85.00, assumes this works close to its best case.

The case against. OFSE remains tied to upstream oil and gas capital spending, which can fall quickly when commodity prices weaken, and Middle East regional instability and asset dispositions have already pressured that segment. The most pessimistic target, $51.00, is roughly what BKR is worth if this bites instead.

Read the full bull and bear case on BKR, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Baker Hughes Company's investor relations page or your broker.

• Revenue (TTM): ~$27B
• Q1 2026 revenue: ~$6.6B
• Q1 2026 adjusted EPS: ~$0.58
• Market cap: ~$57B
• Forward P/E: ~20x
• Dividend yield: ~1.5% (about $0.92 annual)

Q1 2026 revenue of about $6.6 billion and adjusted EPS near $0.58 came in ahead of consensus, driven by IET strength (revenue up about 14%) while OFSE revenue fell roughly 7%. The stock trades at a forward P/E around 20x, richer than oilfield-services peers like Halliburton and SLB, reflecting the higher-quality IET backlog. Figures are approximate and change with each quarterly report and market moves.

These are the investment theses BKR naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to BKR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get BKR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so BKR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where BKR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

BKR is an oilfield-services name reshaping itself into a gas-and-power technology supplier, with a record IET backlog doing much of the growth work.

Whether BKR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BKR a buy or a sell?, and where the stock could go from here in the BKR stock forecast.

For income investors, whether BKR pays a dividend and how the payout looks is covered in does BKR pay a dividend? And to weigh BKR against a peer, read the full side-by-side comparisons: BKR vs CVX and BKR vs ORA.