Susquehanna Raises Baker Hughes (NASDAQ:BKR) Price Target to $46.00

Baker Hughes (NASDAQ:BKR) had its price target raised by Susquehanna from $40.00 to $46.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a positive rating on the stock.

BKR has been the topic of a number of other reports. Piper Sandler cut their target price on Baker Hughes from $45.00 to $44.00 and set an overweight rating on the stock in a research note on Monday, July 15th. Bank of America dropped their price objective on Baker Hughes from $40.00 to $38.00 and set a buy rating on the stock in a research report on Monday, July 15th. UBS Group increased their price objective on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley increased their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $45.00 to $46.00 and gave the company a buy rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $43.00.

Baker Hughes Price Performance

Shares of BKR stock opened at $38.72 on Monday. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.64 and a beta of 1.41. The business’s fifty day moving average is $33.98 and its 200 day moving average is $32.39. 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 issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Research analysts expect that Baker Hughes will post 2.15 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $4,813,000. Twin Tree Management LP boosted its holdings in shares of Baker Hughes by 183.0% in the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares during the period. Cibc World Markets Corp boosted its holdings in shares of Baker Hughes by 59.4% in the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after purchasing an additional 102,174 shares during the period. Caxton Associates LP purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $13,672,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Baker Hughes by 101.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock worth $81,484,000 after purchasing an additional 1,200,407 shares during the period. 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.