Stifel Nicolaus Increases Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its price objective lifted by research analysts at Stifel Nicolaus from $45.00 to $48.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 10.14% from the company’s current price.

A number of other equities research analysts also recently issued reports on BKR. Susquehanna increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded down $0.67 on Monday, hitting $43.58. The company had a trading volume of 2,652,330 shares, compared to its average volume of 7,194,295. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $38.54 and a 200 day moving average price of $35.65. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The stock has a market cap of $43.12 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 0.75 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the company posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Institutional Trading of Baker Hughes

Hedge funds have recently bought and sold shares of the business. National Pension Service grew its position in Baker Hughes by 6.4% in the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the period. Hixon Zuercher LLC bought a new position in Baker Hughes during the 3rd quarter valued at $1,980,000. Wedge Capital Management L L P NC lifted its stake in Baker Hughes by 20.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after acquiring an additional 123,689 shares in the last quarter. AQR Capital Management LLC lifted its stake in Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in Baker Hughes by 76.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after acquiring an additional 53,006 shares in the last quarter. 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.