Baker Hughes Becomes Preferred Provider for Marathon Petroleum
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy BKR?
Source: seekingalpha
- Agreement Reached: Baker Hughes has entered into an agreement to become the preferred provider for Marathon Petroleum at its North American refineries, further deepening a three-decade collaboration that underscores their commitment and expertise in downstream chemicals.
- Technology Portfolio Provided: Under the agreement, Baker Hughes will supply its portfolio of downstream chemical technologies, including heavy oil demulsifiers and corrosion inhibitors, to 12 oil refineries and two renewable fuel facilities, aiming to enhance operational reliability and environmental compliance while minimizing non-productive time.
- Market Leadership Reinforced: Baker Hughes solidifies its leadership position in downstream chemicals, with Executive VP Amerino Gatti highlighting that the long-standing partnership is a testament to the innovation and dedication of their team, thereby enhancing their competitive edge in the market.
- Support for Environmental Compliance: By providing digital monitoring tools and renewable additives, Baker Hughes not only improves refinery operational efficiency but also assists clients in meeting increasingly stringent environmental regulations, showcasing its strategic importance in sustainable development.
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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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- Technology Portfolio Provided: Under the agreement, Baker Hughes will supply its portfolio of downstream chemical technologies, including heavy oil demulsifiers and corrosion inhibitors, to 12 oil refineries and two renewable fuel facilities, aiming to enhance operational reliability and environmental compliance while minimizing non-productive time.
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- Technology Portfolio Provided: Under the agreement, Baker Hughes will supply its portfolio of downstream chemical technologies, including heavy oil demulsifiers and corrosion inhibitors, to 12 oil refineries and two renewable fuel facilities, aiming to enhance operational reliability and environmental compliance while minimizing non-productive time.
- Market Leadership Reinforced: Baker Hughes solidifies its leadership position in downstream chemicals, with Executive VP Amerino Gatti highlighting that the long-standing partnership is a testament to the innovation and dedication of their team, thereby enhancing their competitive edge in the market.
- Support for Environmental Compliance: By providing digital monitoring tools and renewable additives, Baker Hughes not only improves refinery operational efficiency but also assists clients in meeting increasingly stringent environmental regulations, showcasing its strategic importance in sustainable development.
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