The Goldman Sachs Group Raises Baker Hughes (NASDAQ:BKR) Price Target to $38.00

Baker Hughes (NASDAQ:BKR) had its target price upped by The Goldman Sachs Group from $36.00 to $38.00 in a report released on Tuesday morning.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Barclays lowered their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an outperform rating to a peer perform rating in a report on Monday, January 29th. Susquehanna restated a positive rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $39.00 price objective on shares of Baker Hughes in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $40.94.

Baker Hughes Trading Up 1.9 %

NASDAQ:BKR opened at $33.30 on Tuesday. The firm has a market capitalization of $33.33 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.62 and a beta of 1.42. 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 company has a fifty day moving average of $31.97 and a 200 day moving average of $32.56. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58.

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

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Baker Hughes by 29.5% in the 3rd quarter. CWM LLC now owns 15,268 shares of the company’s stock valued at $539,000 after purchasing an additional 3,475 shares during the last quarter. AE Wealth Management LLC lifted its position in Baker Hughes by 37.4% in the third quarter. AE Wealth Management LLC now owns 40,852 shares of the company’s stock worth $1,443,000 after buying an additional 11,112 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in Baker Hughes during the third quarter worth $201,000. Miller Howard Investments Inc. NY increased its position in Baker Hughes by 0.5% during the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock valued at $1,966,000 after acquiring an additional 303 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at $1,809,000. 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.