Baker Hughes (NASDAQ:BKR) Price Target Increased to $37.00 by Analysts at Evercore ISI

Baker Hughes (NASDAQ:BKRGet Rating) had its price target lifted by Evercore ISI from $33.00 to $37.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on BKR. Wells Fargo & Company lowered Baker Hughes from an overweight rating to an equal weight rating and lowered their target price for the stock from $32.00 to $29.00 in a research report on Wednesday, October 26th. They noted that the move was a valuation call. Citigroup lowered their price target on Baker Hughes from $40.00 to $36.00 in a research report on Tuesday, October 4th. Barclays lowered their price target on Baker Hughes to $38.00 in a research report on Thursday, October 20th. Susquehanna increased their price target on Baker Hughes from $35.00 to $40.00 and gave the company a positive rating in a research report on Tuesday. Finally, Royal Bank of Canada lowered their price target on Baker Hughes from $35.00 to $33.00 and set an outperform rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of Moderate Buy and an average target price of $35.44.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $30.15 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. Baker Hughes has a twelve month low of $20.42 and a twelve month high of $39.78. The stock’s 50 day moving average is $29.37 and its 200-day moving average is $26.75. The firm has a market capitalization of $30.41 billion, a price-to-earnings ratio of -65.54, a PEG ratio of 0.43 and a beta of 1.48.

Baker Hughes (NASDAQ:BKRGet Rating) last issued its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $6.07 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Baker Hughes’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Baker Hughes will post 0.93 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were paid a dividend of $0.19 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio is presently -165.22%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $29.02, for a total transaction of $284,715.22. Following the completion of the transaction, the executive vice president now owns 74,474 shares in the company, valued at approximately $2,161,235.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the firm’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $29.02, for a total value of $284,715.22. Following the completion of the transaction, the executive vice president now owns 74,474 shares in the company, valued at approximately $2,161,235.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rami Qasem sold 72,000 shares of Baker Hughes stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $31.21, for a total value of $2,247,120.00. Following the transaction, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at approximately $1,015,042.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 285,303 shares of company stock worth $8,816,980. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC purchased a new position in Baker Hughes during the 2nd quarter valued at about $27,000. Alpha Paradigm Partners LLC purchased a new position in Baker Hughes during the 2nd quarter valued at about $29,000. Hallmark Capital Management Inc. purchased a new position in Baker Hughes during the 2nd quarter valued at about $31,000. Evoke Wealth LLC grew its holdings in Baker Hughes by 276.1% during the 2nd quarter. Evoke Wealth LLC now owns 1,557 shares of the company’s stock valued at $45,000 after buying an additional 1,143 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in Baker Hughes during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Baker Hughes Company Profile

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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