Analysts Set Baker Hughes (NASDAQ:BKR) PT at $41.27

Baker Hughes (NASDAQ:BKR) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat.com 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 price target among analysts that have issued ratings on the stock in the last year is $40.92.

BKR has been the subject of a number of analyst reports. Jefferies Financial Group increased their target price on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Bank of America reduced their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group raised their price target on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the firm’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 transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management grew its holdings in Baker Hughes by 256.7% during the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the period. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes during the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baker Hughes in the fourth quarter worth $33,000. Montag A & Associates Inc. raised its position in shares of Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. Finally, New Covenant Trust Company N.A. bought a new position in Baker Hughes in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $35.93 on Monday. The stock has a market capitalization of $35.86 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. Baker Hughes has a one year low of $28.32 and a one year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The business’s 50 day simple moving average is $33.34 and its two-hundred day simple moving average is $32.12.

Baker Hughes (NASDAQ:BKR) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Analysts forecast that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.34%. 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.