Baker Hughes (NASDAQ:BKR) Receives $50.65 Average Price Target from Analysts

Baker Hughes (NASDAQ:BKR) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.65.

A number of research firms have recently commented on BKR. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Evercore ISI raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th.

Baker Hughes Stock Up 1.5 %

BKR stock opened at $38.36 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $37.98 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.00 and a beta of 1.08. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The business has a 50-day moving average of $42.01 and a 200-day moving average of $42.10.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.40%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in BKR. Dynasty Wealth Management LLC raised its position in Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its position in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after buying an additional 267 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Baker Hughes by 9.3% in the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares during the last quarter. 92.06% of the stock is currently 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.