Baker Hughes (NASDAQ:BKR) Price Target Increased to $38.00 by Analysts at The Goldman Sachs Group

Baker Hughes (NASDAQ:BKR) had its price target boosted by equities research analysts at The Goldman Sachs Group from $36.00 to $38.00 in a research note issued on Tuesday. The Goldman Sachs Group’s price objective suggests a potential upside of 16.31% from the company’s previous close.

BKR has been the topic of a number of other reports. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Morgan Stanley lifted their target price on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Barclays dropped their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Trading Down 1.0 %

Shares of BKR opened at $32.67 on Tuesday. The stock’s 50-day moving average is $31.89 and its two-hundred day moving average is $32.55. The stock has a market cap of $32.70 billion, a PE ratio of 17.10, a P/E/G ratio of 0.61 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. 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 quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 10.63% and a net margin of 7.62%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Equities analysts forecast that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s 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 transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the company’s 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 transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the company’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 directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently made changes to their positions in BKR. Norges Bank acquired a new position in shares of Baker Hughes during the fourth quarter worth approximately $551,555,000. Cardano Risk Management B.V. acquired a new position in shares of Baker Hughes during the first quarter worth approximately $117,083,000. FMR LLC boosted its position in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after buying an additional 2,316,638 shares during the period. AQR Capital Management LLC boosted its position in shares of Baker Hughes by 846.7% during the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after buying an additional 2,127,675 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after buying an additional 1,822,487 shares during the period. 92.06% of the stock is owned by institutional investors.

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.