Baker Hughes (NASDAQ:BKR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $40.92.

BKR has been the topic of several recent research reports. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Bank of America cut their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Jefferies Financial Group raised their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, June 28th.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management raised its holdings in Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes during the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in Baker Hughes during the fourth quarter worth approximately $33,000. Montag A & Associates Inc. raised its holdings in Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new stake in Baker Hughes during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.1 %

Shares of NASDAQ BKR opened at $35.93 on Monday. The firm has a market cap of $35.86 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. The company’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $32.12. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted 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 company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. Baker Hughes’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. Equities analysts predict that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

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.