Baker Hughes (NASDAQ:BKR) PT Raised to $36.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its price objective raised by analysts at UBS Group from $35.00 to $36.00 in a research note issued to investors on Tuesday. UBS Group’s target price suggests a potential upside of 10.19% from the company’s previous close.

A number of other analysts also recently issued reports on BKR. Morgan Stanley boosted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday. Susquehanna restated a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Stock Performance

NASDAQ BKR opened at $32.67 on Tuesday. 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 market capitalization of $32.70 billion, a P/E 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 firm has a 50-day moving average price of $31.89 and a two-hundred day moving average price of $32.55.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’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 firm posted $0.28 EPS. Analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, 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 completion of the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $294,400.00. Following the completion of the transaction, the senior vice president now 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 and hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management boosted its stake in shares of Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Baker Hughes in the 4th quarter valued at $33,000. Montag A & Associates Inc. boosted its stake in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the 3rd quarter valued at $36,000. 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.