Analysts Set Baker Hughes (NASDAQ:BKR) PT at $40.94

Baker Hughes (NASDAQ:BKR) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.94.

Several research firms have recently weighed in on BKR. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Barclays cut their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. 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. Finally, Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th.

Baker Hughes Stock Performance

Shares of BKR opened at $31.92 on Wednesday. Baker Hughes has a 52-week low of $26.96 and a 52-week high of $37.58. The company has a market capitalization of $31.95 billion, a PE ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $32.31 and a 200-day simple moving average of $32.48.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. Equities research analysts predict that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes 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 directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal 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 dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, 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. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter valued at about $551,555,000. FMR LLC increased its stake in shares of Baker Hughes by 16.8% during the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after purchasing an additional 379,385 shares during the period. Morgan Stanley grew its holdings in Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Baker Hughes by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after buying an additional 1,395,083 shares during the last quarter. 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.