Baker Hughes (NASDAQ:BKR) Price Target Raised to $43.00

Baker Hughes (NASDAQ:BKR) had its target price boosted by Morgan Stanley from $40.00 to $43.00 in a report issued on Tuesday morning.

Several other equities research analysts also recently weighed in on the company. Wolfe Research downgraded Baker Hughes from an outperform rating to a peer perform rating in a report on Monday, January 29th. Susquehanna reiterated a positive rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Barclays reduced their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a report on Friday, January 26th. Royal Bank of Canada reiterated an outperform rating and set a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, TD Cowen raised their price target on Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $40.94.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $33.30 on Tuesday. The firm has a market cap of $33.33 billion, a PE ratio of 18.60, a price-to-earnings-growth 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. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The business’s fifty day simple moving average is $31.97 and its 200-day simple moving average is $32.56.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. Equities analysts forecast that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Insider Transactions at Baker Hughes

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

Hedge Funds Weigh In On Baker Hughes

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Baker Hughes in the 4th quarter worth about $551,555,000. Cardano Risk Management B.V. acquired a new position in Baker Hughes during the first quarter valued at approximately $117,083,000. FMR LLC grew its stake in 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 increased its position in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Baker Hughes by 47.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after acquiring an additional 1,822,487 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

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.