Baker Hughes (NASDAQ:BKR) Price Target Raised to $49.00 at Wells Fargo & Company

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by stock analysts at Wells Fargo & Company from $42.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 22.38% from the stock’s current price.

A number of other equities analysts also recently commented on BKR. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Barclays increased their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $46.47.

Baker Hughes Price Performance

BKR opened at $40.04 on Tuesday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The firm has a market cap of $39.62 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 0.72 and a beta of 1.40. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $40.76 and a 200 day simple moving average of $36.87.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Equities research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. increased its holdings in shares of Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the period. UMB Bank n.a. lifted its holdings in shares of Baker Hughes by 18.4% during the 2nd 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. Graypoint LLC lifted its stake in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.