Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Baker Hughes (NASDAQ:BKR) had its price target hoisted by Stifel Nicolaus from $45.00 to $48.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 10.14% from the stock’s previous close.

BKR has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, UBS Group cut their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.67 during mid-day trading on Monday, reaching $43.58. 2,652,330 shares of the company’s stock were exchanged, compared to its average volume of 7,194,295. The firm has a market capitalization of $43.12 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a 50-day moving average price of $38.54 and a two-hundred day moving average price of $35.65.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company 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 13.77% and a net margin of 8.20%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Analysts predict that Baker Hughes will post 2.29 EPS for the current year.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its position in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Continuum Advisory LLC raised its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in Baker Hughes during the 1st quarter worth $34,000. Finally, Alta Advisers Ltd purchased a new position in Baker Hughes during the 2nd quarter worth $42,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.