Baker Hughes (NASDAQ:BKR) Price Target Raised to $48.00

Baker Hughes (NASDAQ:BKR) had its price objective lifted by Stifel Nicolaus from $45.00 to $48.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Stock Up 0.2 %

NASDAQ:BKR opened at $43.61 on Monday. The company’s 50-day simple moving average is $39.09 and its 200-day simple moving average is $35.86. The stock has a market capitalization of $43.15 billion, a P/E ratio of 19.56, a P/E/G ratio of 0.73 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. On average, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Baker Hughes’s dividend payout ratio is 37.67%.

Institutional Trading of Baker Hughes

Several hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in Baker Hughes by 26.7% in the first quarter. Lazard Asset Management LLC now owns 25,882 shares of the company’s stock worth $866,000 after purchasing an additional 5,454 shares during the last quarter. Janus Henderson Group PLC raised its position in Baker Hughes by 1.5% during the first quarter. Janus Henderson Group PLC now owns 968,208 shares of the company’s stock valued at $32,432,000 after purchasing an additional 14,610 shares during the period. Dynasty Wealth Management LLC bought a new stake in Baker Hughes in the first quarter worth $235,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Baker Hughes during the 1st quarter worth about $279,000. Finally, California State Teachers Retirement System boosted its position in shares of Baker Hughes by 8.4% during the first quarter. California State Teachers Retirement System now owns 2,303,740 shares of the company’s stock valued at $77,175,000 after buying an additional 178,509 shares during the period. 92.06% of the stock is owned by institutional investors.

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.