Baker Hughes (NASDAQ:BKR) PT Raised to $48.00 at Jefferies Financial Group

Baker Hughes (NASDAQ:BKR) had its price target increased by Jefferies Financial Group from $46.00 to $48.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

BKR has been the topic of several other reports. Stifel Nicolaus boosted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a buy rating in a report on Monday. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Susquehanna boosted their target price on Baker Hughes from $40.00 to $46.00 and gave the stock a positive rating in a report on Monday. Wells Fargo & Company boosted their target price on Baker Hughes from $35.00 to $40.00 and gave the stock an equal weight rating in a report on Monday. Finally, Benchmark reaffirmed a buy rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of Moderate Buy and a consensus price target of $43.00.

Baker Hughes Price Performance

Shares of BKR stock opened at $37.65 on Monday. The stock has a market cap of $37.57 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.62 and a beta of 1.41. The business’s fifty day moving average is $34.10 and its 200 day moving average is $32.43. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts expect that Baker Hughes will post 2.19 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, August 6th. Baker Hughes’s dividend payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares in the last quarter. Blue Trust Inc. raised its stake in Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after purchasing an additional 327 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Baker Hughes by 6.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after purchasing an additional 398 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Baker Hughes by 6.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after purchasing an additional 467 shares in the last quarter. Finally, Aspire Private Capital LLC raised its stake in Baker Hughes by 9.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after purchasing an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.