Baker Hughes (NASDAQ:BKR) Receives $43.38 Average Price Target from Analysts

Baker Hughes (NASDAQ:BKR) has been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $43.38.

Several research analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley decreased their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Evercore ISI boosted their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th.

Insider Buying and Selling

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 transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently modified their holdings of the business. UMB Bank n.a. boosted its stake in Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the period. Guinness Atkinson Asset Management Inc raised its holdings in shares of Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Baker Hughes by 6.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after purchasing an additional 490 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Baker Hughes by 5.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after purchasing an additional 520 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after purchasing an additional 525 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $37.22 on Friday. The stock has a 50-day simple moving average of $35.27 and a two-hundred day simple moving average of $33.96. The firm has a market capitalization of $37.15 billion, a P/E ratio of 20.79, a PEG ratio of 0.59 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the business earned $0.39 EPS. Baker Hughes’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) 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.