Baker Hughes (NASDAQ:BKR) PT Raised to $46.00

Baker Hughes (NASDAQ:BKR) had its target price boosted by Barclays from $41.00 to $46.00 in a report released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler dropped their price target on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Evercore ISI increased their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Trading Up 2.0 %

Shares of Baker Hughes stock opened at $37.52 on Thursday. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The stock has a market cap of $37.44 billion, a PE ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. The firm has a 50-day moving average of $35.70 and a 200-day moving average of $34.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of BKR. UMB Bank n.a. lifted its stake in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after acquiring an additional 291 shares during the period. First Trust Direct Indexing L.P. raised its holdings in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its position in shares of Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Baker Hughes by 8.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after purchasing an additional 515 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Baker Hughes by 5.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock valued at $350,000 after purchasing an additional 520 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.