Baker Hughes (NASDAQ:BKR) Price Target Raised to $48.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price objective boosted by Susquehanna from $46.00 to $48.00 in a research note issued to investors on Thursday morning, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other equities analysts have also issued reports on the company. Barclays lifted their target price on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Citigroup decreased their target price on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Piper Sandler cut their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, UBS Group reduced their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Price Performance

NASDAQ BKR opened at $36.78 on Thursday. The company has a market cap of $36.71 billion, a PE ratio of 20.55, a P/E/G ratio of 0.61 and a beta of 1.38. The firm’s 50 day moving average price is $35.61 and its 200-day moving average price is $34.35. 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 has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a $0.21 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.28%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the sale, the chief executive officer now directly owns 616,339 shares in the company, valued at approximately $23,759,868.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of Baker Hughes in the first quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the first quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes in the second quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes in the 2nd quarter worth approximately $48,000. Finally, Quarry LP grew its stake in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 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.