11 Best Crude Oil Stocks To Buy Right Now

8. Baker Hughes Company (NASDAQ:BKR)

Number of Hedge Fund Holders: 58

Baker Hughes Company (NASDAQ:BKR) is a global leader in oilfield services and energy technology, providing critical equipment and solutions to the oil and gas industry. The company operates across four key segments: Oilfield Services & Equipment, Industrial & Energy Technology, Turbomachinery & Process Solutions, and Digital Solutions. With a presence in over 120 countries, BKR supports both upstream and downstream operations, offering services such as drilling, completions, production optimization, and LNG infrastructure. While its core business remains deeply tied to crude oil and natural gas development, the company is also investing in emerging energy technologies, including carbon capture, hydrogen, and geothermal solutions.

Baker Hughes Company (NASDAQ:BKR) delivered strong Q4 results, exceeding EBITDA guidance for the eighth consecutive quarter and setting new quarterly and annual records for revenue, free cash flow, adjusted EPS, EBITDA, and EBITDA margin. The company’s adjusted EPS increased 37% YoY and grew 47% for the full year. Company adjusted EBITDA margins expanded by 1.8 percentage points YoY to reach a record of 17.8%. The company generated a strong free cash flow of $894 million during the quarter, resulting in a record annual free cash flow of $2.3 billion, representing a conversion rate of 49%.

Looking forward to 2025, Baker Hughes Company (NASDAQ:BKR) anticipates more than 80 million tons per annum (MTPA) of LNG FIDs in 2025 and 2026, supported by a record year of offtake contracting in 2024 which totaled 92 MTPA. The company expects global upstream spending to be down slightly in 2025, with North American spending decreasing YoY in the mid-single-digit range. In international markets, spending is expected to be flat to down YoY, with bright spots in Brazil, the Middle East outside of Saudi Arabia, and Sub-Saharan Africa. The company remains confident in achieving its margin targets and sees the 20% margin level as a milestone rather than a final destination. With that being said, management seems confident in the future, and the recent strong results further reinforce the optimistic outlook.