Baker Hughes (NASDAQ:BKR) Stock Rating Reaffirmed by Benchmark

Benchmark restated their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $42.00 price objective on the stock.

BKR has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Piper Sandler reduced their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays boosted their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets raised their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

BKR stock opened at $37.52 on Thursday. The firm has a 50 day moving average of $35.70 and a 200-day moving average of $34.39. The firm has a market capitalization of $37.44 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. Baker Hughes’s payout ratio is presently 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several hedge funds have recently made changes to their positions in the business. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes in the first quarter worth about $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter valued at approximately $34,000. Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter valued at approximately $48,000. Finally, Quarry LP increased its position in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 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.