Baker Hughes (NASDAQ:BKR) Receives $49.11 Consensus Target Price from Brokerages

Baker Hughes (NASDAQ:BKR) has received a consensus rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $49.11.

A number of research firms have commented on BKR. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a “buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group upped their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Barclays reduced their price target on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Baker Hughes during the 4th quarter valued at approximately $829,092,000. Nuveen LLC bought a new position in Baker Hughes during the 1st quarter valued at approximately $404,385,000. Raymond James Financial Inc. bought a new position in Baker Hughes during the 4th quarter valued at approximately $291,289,000. Pacer Advisors Inc. raised its position in Baker Hughes by 2,585.6% during the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock valued at $169,511,000 after purchasing an additional 3,713,301 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 1.5%

Shares of BKR stock opened at $38.18 on Friday. The firm has a market capitalization of $37.83 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $39.56 and its 200 day simple moving average is $42.04.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. As a group, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.41%. The ex-dividend date is Tuesday, May 6th. Baker Hughes’s dividend payout ratio is presently 31.40%.

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.