Brokerages Set Baker Hughes (NASDAQ:BKR) Price Target at $51.06

Baker Hughes (NASDAQ:BKR) has earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $51.06.

Several equities analysts have weighed in on the company. Benchmark reissued a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently modified their holdings of BKR. JFS Wealth Advisors LLC boosted its position in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the fourth quarter worth $30,000. Larson Financial Group LLC increased its holdings in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the last quarter. True Wealth Design LLC raised its position in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Up 1.1 %

Shares of NASDAQ:BKR opened at $44.60 on Friday. The company has a 50 day moving average of $44.96 and a 200-day moving average of $41.50. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

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.