Baker Hughes (NASDAQ:BKR) Price Target Raised to $50.00

Baker Hughes (NASDAQ:BKR) had its price objective raised by Jefferies Financial Group from $48.00 to $50.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler assumed coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price for the company. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. UBS Group cut their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Finally, Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.12.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $42.66 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The company has a fifty day moving average of $41.71 and a 200-day moving average of $37.67. The firm has a market capitalization of $42.21 billion, a P/E ratio of 19.13, a P/E/G ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.97%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after buying an additional 2,998 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Baker Hughes by 4.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares during the last quarter. Birmingham Capital Management Co. Inc. AL grew its holdings in shares of Baker Hughes by 18.5% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after purchasing an additional 2,500 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Baker Hughes in the third quarter worth $139,000. Finally, Sanctuary Advisors LLC boosted its position in Baker Hughes by 92.0% during the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock valued at $3,180,000 after buying an additional 42,148 shares during the period. 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.