Baker Hughes (NASDAQ:BKR) Rating Reiterated by Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a report released on Wednesday, Benzinga reports. They presently have a $40.00 price target on the stock. Benchmark’s price target suggests a potential upside of 20.12% from the company’s previous close.

A number of other equities analysts have also commented on the company. UBS Group boosted their price objective on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday. Morgan Stanley raised their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays reduced their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Price Performance

Shares of BKR stock opened at $33.30 on Wednesday. The stock’s fifty day simple moving average is $31.97 and its 200 day simple moving average is $32.56. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, analysts expect that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

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

Institutional Investors Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the company. Spire Wealth Management lifted its position in Baker Hughes by 256.7% during the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after buying an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Baker Hughes in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $33,000. Montag A & Associates Inc. raised its stake 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 worth $34,000 after purchasing an additional 500 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $36,000. Institutional investors own 92.06% of the company’s stock.

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.