Baker Hughes (NASDAQ:BKR) Price Target Raised to $36.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its target price upped by UBS Group from $35.00 to $36.00 in a report issued on Tuesday morning.

Several other brokerages also recently weighed in on BKR. Citigroup lowered their price target on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating on the stock in a report on Friday, January 26th. Royal Bank of Canada restated an outperform rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Finally, Susquehanna reiterated a positive rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $41.00.

Baker Hughes Price Performance

NASDAQ BKR opened at $33.00 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $33.03 billion, a P/E ratio of 17.28, a PEG ratio of 0.62 and a beta of 1.42. The company has a 50-day moving average price of $31.82 and a 200-day moving average price of $32.55. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.55%. Baker Hughes’s payout ratio is 43.98%.

Insider Buying and Selling at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated 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 approximately $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently modified their holdings of the stock. Miller Howard Investments Inc. NY increased its position in Baker Hughes by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock valued at $1,966,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. raised its holdings in Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares in the last quarter. Rational Advisors LLC raised its holdings in Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Baker Hughes by 6.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after buying an additional 398 shares during the last quarter. Finally, Huntington National Bank lifted its position in Baker Hughes by 8.2% during the third quarter. Huntington National Bank now owns 5,501 shares of the company’s stock valued at $194,000 after acquiring an additional 416 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.