Baker Hughes (NASDAQ:BKR) Price Target Raised to $50.00 at Jefferies Financial Group

Baker Hughes (NASDAQ:BKR) had its target price boosted by Jefferies Financial Group from $48.00 to $50.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on BKR. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets upped their target price on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. UBS Group decreased their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $47.12.

Baker Hughes Stock Up 2.6 %

NASDAQ BKR opened at $42.66 on Friday. The business’s 50-day moving average is $41.71 and its 200 day moving average is $37.67. The stock has a market capitalization of $42.21 billion, a PE ratio of 19.13, a PEG ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted 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 firm 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 was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in BKR. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC grew its position in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Groupama Asset Managment increased its stake in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Continuum Advisory LLC raised its holdings in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the period. Finally, Alta Advisers Ltd purchased a new position in Baker Hughes during the second quarter valued at $42,000. Hedge funds and other institutional investors 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.