Baker Hughes (NASDAQ:BKR) Price Target Increased to $38.00 by Analysts at The Goldman Sachs Group

Baker Hughes (NASDAQ:BKR) had its price target boosted by The Goldman Sachs Group from $36.00 to $38.00 in a research report sent to investors on Tuesday.

Several other analysts have also recently issued reports on BKR. Susquehanna reissued a positive rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Wolfe Research cut shares of Baker Hughes from an outperform rating to a peer perform rating in a research report on Monday, January 29th. Barclays reduced their price target on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, January 26th. Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating on the stock in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $40.94.

Baker Hughes Trading Down 1.4 %

NASDAQ BKR opened at $32.84 on Tuesday. The firm’s 50-day moving average is $32.05 and its two-hundred day moving average is $32.54. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The stock has a market capitalization of $32.87 billion, a P/E ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, sell-side analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.56%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling at Baker Hughes

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

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Baker Hughes during the fourth quarter worth approximately $551,555,000. FMR LLC grew its position in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares during the last quarter. Northern Trust Corp grew its position in shares of Baker Hughes by 4.0% during the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after acquiring an additional 379,385 shares during the last quarter. Morgan Stanley grew its position in shares of Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after acquiring an additional 745,511 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after acquiring an additional 1,395,083 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Company Profile

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.