Morgan Stanley Boosts Baker Hughes (NASDAQ:BKR) Price Target to $43.00

Baker Hughes (NASDAQ:BKR) had its price target boosted by Morgan Stanley from $40.00 to $43.00 in a report issued on Tuesday. Morgan Stanley’s price objective would suggest a potential upside of 30.58% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup dropped their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, Susquehanna restated a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Baker Hughes Stock Up 1.4 %

Shares of Baker Hughes stock traded up $0.47 during trading on Tuesday, hitting $32.93. 3,638,934 shares of the stock traded hands, compared to its average volume of 8,685,756. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The firm has a market cap of $32.96 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The stock’s fifty day simple moving average is $31.74 and its 200 day simple moving average is $32.56.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts predict that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Transactions at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes during the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth $33,000. Montag A & Associates Inc. boosted its position in shares of Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Baker Hughes in the third quarter valued at about $36,000. Finally, Rational Advisors LLC increased its position in Baker Hughes by 44.0% during the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.