For questions about this article or underlying research, email help@trefis.com.
Baker Hughes (BKR) stock fell 7.4% on Thursday, November 5, 2026, while the S&P 500 dropped 4.4%. The company released no announcement, earnings report, or filing alongside the decline. The drop occurred during a broad selloff that saw all five companies on Baker Hughes’ Trefis peer list fall too. It was also the stock’s third fall of more than 5% in seven sessions. The first came on October 28, the day of its earnings call. So what does Baker Hughes sell, and what did management say about those markets?
Image from Pixabay
Baker Hughes Sells To Oil Fields And Data Centers
Baker Hughes earns its money across several markets, including oil and gas producers and data centers. The company’s oilfield services business caters to oil and gas producers, and management said on its October 28 earnings call that it expects their global spending to be broadly flat from a year earlier.
The equipment business, which sells gas turbines and power systems, has been securing orders from data centers. By the time of that call, the company had booked $4.9 billion of data center awards in 2026. Management expects its power systems orders for the full year to approach $7 billion, driven primarily by data centers. Management also called Baker Hughes an increasingly critical enabler of the power infrastructure that the growth of AI requires.
Did Baker Hughes Fall More Than Other Energy Stocks?
Yes. Baker Hughes dropped alongside the rest of the energy sector, but it fell further. The SPDR energy sector fund, XLE, lost 3.0% on the day, less than the broad market. Same-day reports tied the broad market’s slide to a rout in AI-related technology stocks. All five companies on the stock’s Trefis peer list, among them SLB and Halliburton, fell by between 3.3% and 4.6%. While Baker Hughes moved with its group, its drop was larger than every one of those moves.
AI fears spilled into energy too. Here’s what the last 21 days like November 5 led to.
Where Does Baker Hughes Stock Stand Now?
No session in the previous 365 days produced a fall this large. The closest comparison came on October 28, the day of the company’s third-quarter call, when shares fell slightly less, though that drop also rounds to 7.4%. The latest drop also followed a 5.5% fall on November 4, the session before.
Baker Hughes closed at $46.20 on November 5, not far above its lowest close of the past year, $44.47 on December 18, 2025. The stock recorded its highest close on April 30, 2026, at $69.67. Over the past six months, the stock lost 27.0%, while the S&P 500 rose 0.8%. Over twelve months, it is up 1.6%, against 9.9% for the index. At that price, you pay 1.6 times the company’s sales over the past twelve months, against 3.2 times for the S&P 500.
The company’s next report will cover fiscal Q4 2026. Orders in its equipment business are the measure to watch then. During the October 28 call, management raised its full-year outlook for them to $21.5 billion to $23.5 billion.
Now You Know Baker Hughes. Here Is A Better Way To Invest
Before you decide on BKR, consider owning 30 quality companies instead of one. The Trefis High Quality (HQ) Portfolio has returned 105% since its September 2020 launch, ahead of a benchmark that combines the S&P 500, S&P MidCap and Russell 2000.
Spot an error or want more like this? Tell us in 10 seconds.
Source: www.trefis.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
