Baker Hughes (NASDAQ:BKR) Given New $50.00 Price Target at Citigroup

Baker Hughes (NASDAQ:BKR) had its target price raised by Citigroup from $42.00 to $50.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

BKR has been the subject of several other reports. Jefferies Financial Group upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. TD Cowen upped their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Stock Performance

NASDAQ BKR opened at $42.94 on Thursday. The company’s 50 day simple moving average is $37.48 and its two-hundred day simple moving average is $35.24. The stock has a market capitalization of $42.49 billion, a PE ratio of 19.26, a P/E/G ratio of 0.72 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $44.49.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the third quarter worth about $30,000. True Wealth Design LLC increased its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment raised its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the first quarter valued at $34,000. Finally, Continuum Advisory LLC boosted its position in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after buying an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.