Baker Hughes (NASDAQ:BKR) Price Target Lowered to $48.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price target lowered by analysts at Susquehanna from $55.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 25.79% from the stock’s current price.

BKR has been the topic of several other reports. Bank of America lifted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Evercore ISI upped their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.65.

Baker Hughes Price Performance

Shares of BKR stock opened at $38.16 on Monday. The company has a market cap of $37.78 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The business has a fifty day simple moving average of $42.83 and a 200 day simple moving average of $42.06.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its position in shares of Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock valued at $1,135,744,000 after buying an additional 177,232 shares during the last quarter. Geode Capital Management LLC increased its stake in Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after buying an additional 465,832 shares during the last quarter. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter worth approximately $829,092,000. FMR LLC boosted its stake in shares of Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after buying an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock worth $473,880,000 after buying an additional 874,297 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.