Analysts Set Baker Hughes (NASDAQ:BKR) Target Price at $44.76

Baker Hughes (NASDAQ:BKR) has been assigned an average recommendation of “Moderate Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $45.12.

Several research firms have recently issued reports on BKR. Royal Bank of Canada increased their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets upped their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Susquehanna lifted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Finally, Barclays upped their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in BKR. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes during the 3rd quarter worth $47,296,000. Eagle Asset Management Inc. boosted its position in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Baker Hughes by 436.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the period. Finally, Groupama Asset Managment grew its holdings in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Down 0.4 %

Shares of BKR opened at $42.15 on Thursday. The stock’s 50-day moving average price is $40.55 and its 200-day moving average price is $36.70. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $41.71 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 0.72 and a beta of 1.40. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the company earned $0.42 EPS. The business’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Baker Hughes will post 2.29 EPS for the current 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 dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.99%. Baker Hughes’s dividend payout ratio is presently 37.67%.

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.