Baker Hughes (NASDAQ:BKR) Given New $43.00 Price Target at Morgan Stanley

Baker Hughes (NASDAQ:BKR) had its price objective lifted by investment analysts at Morgan Stanley from $40.00 to $43.00 in a report released on Tuesday. Morgan Stanley’s price target suggests a potential upside of 31.62% from the company’s previous close.

A number of other analysts have also issued reports on BKR. Citigroup dropped their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Barclays lowered their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Finally, TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Stock Down 1.0 %

Shares of NASDAQ BKR opened at $32.67 on Tuesday. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The firm has a market cap of $32.70 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.61 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 stock’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $32.55.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of 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 link. Also, SVP James E. Apostolides sold 10,000 shares of the business’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 transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. 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 made changes to their positions in the business. Spire Wealth Management lifted its position in Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after purchasing an additional 552 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in Baker Hughes in the fourth quarter worth approximately $33,000. Montag A & Associates Inc. lifted 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. Finally, OFI Invest Asset Management acquired a new stake in shares of Baker Hughes during the 3rd quarter valued at $36,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.