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

Baker Hughes (NASDAQ:BKR) had its price objective boosted by Jefferies Financial Group from $46.00 to $48.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

BKR has been the topic of a number of other research reports. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a buy rating in a research note on Monday. Susquehanna raised their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the company a positive rating in a research note on Monday. Bank of America dropped their price target on shares of Baker Hughes from $40.00 to $38.00 and set a buy rating on the stock in a research note on Monday, July 15th. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $35.00 to $40.00 and gave the stock an equal weight rating in a research note on Monday. Finally, UBS Group raised their price objective on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Three investment 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, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.00.

Baker Hughes Stock Down 2.8 %

BKR stock opened at $37.65 on Monday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company’s 50 day simple moving average is $34.10 and its 200-day simple moving average is $32.43. The firm has a market capitalization of $37.57 billion, a PE ratio of 21.03, a P/E/G ratio of 0.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKR. Raymond James & Associates raised its stake in Baker Hughes by 13.8% in the fourth quarter. Raymond James & Associates now owns 466,769 shares of the company’s stock valued at $15,954,000 after purchasing an additional 56,707 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after acquiring an additional 327 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Baker Hughes by 6.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 49,167 shares of the company’s stock worth $1,681,000 after acquiring an additional 2,962 shares during the last quarter. JB Capital LLC lifted its holdings in shares of Baker Hughes by 3.5% in the fourth quarter. JB Capital LLC now owns 68,805 shares of the company’s stock worth $2,352,000 after acquiring an additional 2,347 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Baker Hughes by 14.6% in the fourth quarter. Ballentine Partners LLC now owns 19,169 shares of the company’s stock worth $655,000 after acquiring an additional 2,447 shares during 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.