Baker Hughes (NASDAQ:BKR) PT Raised to $48.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price objective lifted by Susquehanna from $46.00 to $48.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a positive rating on the stock.

A number of other research analysts have also issued reports on BKR. Piper Sandler cut their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus upped their target price on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Morgan Stanley raised their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen boosted their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Trading Up 2.0 %

NASDAQ BKR opened at $37.52 on Thursday. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company’s 50-day simple moving average is $35.70 and its two-hundred day simple moving average is $34.39.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend 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 currently 46.93%.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several institutional investors have recently made changes to their positions in BKR. Price T Rowe Associates Inc. MD grew its position in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after acquiring an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. American Century Companies Inc. increased its position in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after buying an additional 612,715 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.