Baker Hughes (NASDAQ:BKR) Price Target Raised to $36.00

Baker Hughes (NASDAQ:BKR) had its price objective boosted by UBS Group from $35.00 to $36.00 in a research note released on Tuesday.

BKR has been the topic of several other reports. Citigroup cut their target price on Baker Hughes from $42.00 to $41.00 and set a buy rating on the stock in a report on Friday, January 26th. Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Susquehanna reiterated a positive rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Finally, Wolfe Research lowered shares of Baker Hughes from an outperform rating to a peer perform rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and twelve 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 $40.94.

Baker Hughes Trading Up 1.9 %

Shares of BKR opened at $33.30 on Tuesday. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The business’s fifty day moving average is $31.97 and its 200-day moving average is $32.56. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Equities analysts anticipate that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

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

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of BKR. CWM LLC boosted its stake in Baker Hughes by 29.5% during the third quarter. CWM LLC now owns 15,268 shares of the company’s stock valued at $539,000 after buying an additional 3,475 shares during the period. AE Wealth Management LLC grew its stake in Baker Hughes by 37.4% in the 3rd quarter. AE Wealth Management LLC now owns 40,852 shares of the company’s stock worth $1,443,000 after buying an additional 11,112 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Baker Hughes in the 3rd quarter worth approximately $201,000. Miller Howard Investments Inc. NY increased its holdings in shares of Baker Hughes by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after buying an additional 303 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at $1,809,000. 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.