Baker Hughes (NASDAQ:BKR) Given New $48.00 Price Target at Stifel Nicolaus

Baker Hughes (NASDAQ:BKR) had its price objective raised by Stifel Nicolaus from $45.00 to $48.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on BKR. Jefferies Financial Group raised their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price 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. Finally, TD Cowen upped their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Price Performance

Shares of BKR opened at $43.55 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market cap of $43.09 billion, a PE ratio of 19.53, a PEG ratio of 0.75 and a beta of 1.38. The firm’s 50 day moving average price is $38.73 and its 200 day moving average price is $35.73. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17.

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 analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in BKR. Wilmington Savings Fund Society FSB acquired a new stake in Baker Hughes in the 3rd quarter valued at $139,000. Sanctuary Advisors LLC boosted its stake in shares of Baker Hughes by 92.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock valued at $3,180,000 after purchasing an additional 42,148 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of Baker Hughes by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock worth $1,169,000 after purchasing an additional 1,053 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Baker Hughes by 69.7% during the 3rd quarter. Toronto Dominion Bank now owns 527,501 shares of the company’s stock worth $19,069,000 after purchasing an additional 216,613 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Baker Hughes by 16.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,824 shares of the company’s stock valued at $476,000 after purchasing an additional 1,793 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.