Brokerages Set Baker Hughes (NYSE:BKR) PT at $36.38

Baker Hughes (NYSE:BKR – Get Rating) has received an average recommendation of “Buy” from the twenty brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $36.38.

A number of equities analysts have recently commented on BKR shares. Stephens raised their price target on Baker Hughes from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, January 21st. HSBC raised Baker Hughes from a “hold” rating to a “buy” rating and set a $38.30 price target for the company in a report on Tuesday, April 26th. Barclays raised their price target on Baker Hughes from $31.00 to $40.00 in a report on Wednesday, April 27th. Susquehanna cut their price target on Baker Hughes from $42.00 to $41.00 and set a “positive” rating for the company in a report on Thursday, April 21st. Finally, Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $28.00 to $43.00 in a report on Thursday, March 31st.

In other news, SVP Kurt Camilleri sold 5,858 shares of Baker Hughes stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $33.52, for a total value of $196,360.16. Following the transaction, the senior vice president now owns 795 shares in the company, valued at $26,648.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William G. Beattie sold 5,507 shares of Baker Hughes stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $35.69, for a total value of $196,544.83. Following the completion of the transaction, the director now owns 12,743 shares in the company, valued at approximately $454,797.67. The disclosure for this sale can be found here. Insiders have sold 72,056,823 shares of company stock worth $2,482,348,921 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of Baker Hughes by 5.2% in the fourth quarter. Capital World Investors now owns 106,470,994 shares of the company’s stock worth $2,561,675,000 after buying an additional 5,271,646 shares during the period. Vanguard Group Inc. increased its holdings in shares of Baker Hughes by 9.0% in the first quarter. Vanguard Group Inc. now owns 103,492,752 shares of the company’s stock worth $3,768,172,000 after buying an additional 8,563,026 shares during the period. Capital Research Global Investors increased its holdings in shares of Baker Hughes by 48.9% in the fourth quarter. Capital Research Global Investors now owns 86,254,355 shares of the company’s stock worth $2,075,278,000 after buying an additional 28,319,193 shares during the period. BlackRock Inc. increased its holdings in Baker Hughes by 13.0% during the 3rd quarter. BlackRock Inc. now owns 78,927,669 shares of the company’s stock valued at $1,951,881,000 after purchasing an additional 9,103,110 shares during the period. Finally, State Street Corp increased its holdings in Baker Hughes by 5.4% during the 4th quarter. State Street Corp now owns 61,484,230 shares of the company’s stock valued at $1,479,311,000 after purchasing an additional 3,157,362 shares during the period. Hedge funds and other institutional investors own 92.83% of the company’s stock.

NYSE BKR traded up $2.20 on Friday, hitting $34.11. 9,974,898 shares of the stock traded hands, compared to its average volume of 11,656,185. The business’s fifty day moving average is $34.82 and its two-hundred day moving average is $29.15. Baker Hughes has a 12 month low of $19.23 and a 12 month high of $39.78. The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of 103.37 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.61.

Baker Hughes (NYSE:BKR – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.05). Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the company posted $0.12 earnings per share. Baker Hughes’s revenue for the quarter was up 1.1% on a year-over-year basis. Analysts expect that Baker Hughes will post 1.18 EPS for the current fiscal year.

About Baker Hughes (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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