Baker Hughes’ (BKR) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a report published on Tuesday,Benzinga reports. They currently have a $57.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Bank of America lifted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Evercore ISI lifted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Down 0.6 %

Baker Hughes stock opened at $46.15 on Tuesday. Baker Hughes has a fifty-two week low of $28.63 and a fifty-two week high of $49.40. The stock has a market cap of $45.67 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The firm’s 50-day simple moving average is $43.64 and its 200 day simple moving average is $39.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts predict that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 28.19%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of Baker Hughes by 56.4% in the 3rd quarter. CWM LLC now owns 48,422 shares of the company’s stock valued at $1,750,000 after purchasing an additional 17,467 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Baker Hughes by 96.8% in the 3rd quarter. Ritholtz Wealth Management now owns 25,631 shares of the company’s stock valued at $927,000 after purchasing an additional 12,606 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $844,000. Exchange Traded Concepts LLC boosted its stake in shares of Baker Hughes by 93.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company’s stock valued at $706,000 after purchasing an additional 9,440 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Baker Hughes by 12.3% in the 3rd quarter. Creative Planning now owns 69,572 shares of the company’s stock valued at $2,515,000 after purchasing an additional 7,596 shares in the last quarter. 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.