Baker Hughes (NASDAQ:BKR) PT Raised to $48.00

Baker Hughes (NASDAQ:BKR) had its target price raised by equities research analysts at Susquehanna from $46.00 to $48.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 30.97% from the company’s current price.

Several other research analysts have also recently commented on the company. The Goldman Sachs Group boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Barclays upped their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus lifted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a report on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.35 during midday trading on Thursday, hitting $36.65. The company had a trading volume of 2,375,138 shares, compared to its average volume of 7,195,057. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The business’s 50-day simple moving average is $35.61 and its 200-day simple moving average is $34.35. The stock has a market cap of $36.58 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the firm earned $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. On average, research analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Insider Transactions at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new position in Baker Hughes during the first quarter worth $27,000. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the 1st quarter worth about $34,000. Alta Advisers Ltd bought a new position in Baker Hughes in the second quarter worth $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes during the second quarter worth $48,000. Finally, Quarry LP increased its holdings in Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

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.