Oil on track for weekly drop as outline of Trump’s tariff plans emerges

Written by Emily J. Thompson, Senior Investment Analyst

BKR+0.01%

Source: MarketWatch

Updated: Jan 31 2025

0mins

Source: MarketWatch

Oil Prices Movement: Oil futures declined on Friday, contributing to a weekly loss, but are expected to show a monthly gain as traders await President Trump's tariff decision on crude imports from Canada and Mexico.
Market Uncertainty: There is considerable uncertainty regarding whether oil will be included in the tariff package, particularly concerning Canada, according to Alex Hodes from StoneX.

BKR

$54.465+Infinity%1D

Analyst Views on BKR

Wall Street analysts forecast BKR stock price to rise 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: 54.460

Low

52.00

Averages

55.17

High

61.00

Current: 54.460

Low

52.00

Averages

55.17

High

61.00

Stifel

analyst

maintain

$52 -> $57

2026-01-21

New

Reason

Stifel

analyst

Price Target

$52 -> $57

AI Analysis

2026-01-21

New

maintain

Reason

Stifel raised the firm's price target on Baker Hughes (BKR) to $57 from $52 and keeps a Buy rating on the shares. Since the firm published its 2026 energy outlook note, there have been two major developments in the oil service world - the U.S. captured Venezuelan President Nicolas Maduro and appear primed to drive investment in Venezuela and oil service stocks have rallied - the analyst noted. While timing remains unclear, SLB (SLB) and Halliburton (HAL) appear best positioned to benefit from investment in Venezuela, the analyst tells investors.

Susquehanna

Charles Minervino

Positive

maintain

$56 -> $58

2026-01-07

Reason

Susquehanna

Charles Minervino

Price Target

$56 -> $58

2026-01-07

maintain

Positive

Reason

Susquehanna analyst Charles Minervino raised the firm's price target on Baker Hughes to $58 from $56 and keeps a Positive rating on the shares. With U.S. rig and frac spread count flattish from Q3 levels heading into Q4 earnings season for the oilfield services sector, U.S. drilling and completions activity "appears to have held in better than most were expecting," the analyst tells investors in a group preview.

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TD Cowen

Marc Bianchi

Buy

downgrade

$57 -> $55

2026-01-07

Reason

TD Cowen

Marc Bianchi

Price Target

$57 -> $55

2026-01-07

downgrade

Buy

Reason

TD Cowen analyst Marc Bianchi lowered the firm's price target on Baker Hughes to $55 from $57 and keeps a Buy rating on the shares. The firm adjusted targets in the oilfield services group as part of a Q4 preview. Many oilfield stocks have responded positively to the capture of Nicolas Maduro, anticipating increased oilfield investment in Venezuela, the analyst tells investors in a research note. However, TD thinks it will take a long time and require a lot of guarantees from the U.S. government for U.S. companies to commit capital. It says the stock rallies on the news may be overdone. However, many names in the group remain "cheap," the firm adds.

UBS

Josh Silverstein

Neutral

maintain

$48 -> $54

2025-12-12

Reason

UBS

Josh Silverstein

Price Target

$48 -> $54

2025-12-12

maintain

Neutral

Reason

UBS analyst Josh Silverstein raised the firm's price target on Baker Hughes to $54 from $48 and keeps a Neutral rating on the shares. After three years of limited gains, the Energy sector appears positioned for a stronger 2026, supported by improving oil and natural gas outlooks, M&A-driven value creation, cost and capex efficiencies, emerging OFS opportunities, and attractive valuations, the analyst tells investors in a research note. Natural gas E&Ps are favored, though positive momentum is expected broadly across Oil E&Ps and OFS, UBS adds.

About BKR

Baker Hughes Company is an energy technology company that provides solutions to energy and industrial customers worldwide. The Company's segments include 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 segment is organized into four product lines: Well Construction; Completions, Intervention, and Measurements; Production Solutions, and Subsea. 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 operations, downstream refining, and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors. IET segment also provides equipment, software, and services.

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.