Baker Hughes (NASDAQ:BKR) Receives “Buy” Rating from Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research note issued on Tuesday,Benzinga reports. They currently have a $57.00 price objective on the stock. Benchmark’s price target suggests a potential upside of 19.87% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Barclays boosted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler upped their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Up 0.8 %

Shares of BKR stock traded up $0.37 on Tuesday, hitting $47.55. The stock had a trading volume of 1,430,160 shares, compared to its average volume of 7,876,831. The stock’s 50 day moving average is $43.49 and its 200-day moving average is $39.62. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The firm has a market capitalization of $47.05 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently modified their holdings of the stock. Adams Diversified Equity Fund Inc. boosted its position in Baker Hughes by 46.7% in the fourth quarter. Adams Diversified Equity Fund Inc. now owns 337,200 shares of the company’s stock valued at $13,832,000 after buying an additional 107,300 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Baker Hughes by 44.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 8,858 shares of the company’s stock valued at $363,000 after purchasing an additional 2,743 shares in the last quarter. Sandy Spring Bank grew its stake in Baker Hughes by 31.6% during the fourth quarter. Sandy Spring Bank now owns 12,321 shares of the company’s stock worth $505,000 after purchasing an additional 2,962 shares during the period. Royal London Asset Management Ltd. increased its holdings in Baker Hughes by 1.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 794,410 shares of the company’s stock worth $32,587,000 after purchasing an additional 12,799 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in Baker Hughes by 19.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 58,236 shares of the company’s stock valued at $2,389,000 after buying an additional 9,466 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.