Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Citigroup Analyst Says

Baker Hughes (NASDAQ:BKR) had its price objective increased by equities research analysts at Citigroup from $42.00 to $50.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 16.44% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group dropped their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Barclays increased their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.59.

Baker Hughes Trading Down 0.6 %

BKR stock opened at $42.94 on Thursday. The company has a market capitalization of $42.49 billion, a PE ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The firm’s 50-day moving average is $37.48 and its 200 day moving average is $35.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. On average, research analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Institutional Trading of Baker Hughes

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its position in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares during the last quarter. Groupama Asset Managment raised its position in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the 1st quarter worth approximately $34,000. Finally, Continuum Advisory LLC raised its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 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.