Baker Hughes (NASDAQ:BKR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.06.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, 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.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Large investors have recently added to or reduced their stakes in the stock. Dynasty Wealth Management LLC boosted its position in shares of Baker Hughes by 2.7% during the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after acquiring an additional 207 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC grew its stake in shares of Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after buying an additional 267 shares during the period. Cromwell Holdings LLC increased its holdings in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its position in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $43.08 on Friday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The business’s 50 day moving average price is $44.81 and its 200 day moving average price is $41.67. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.65 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. On average, sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.14%. Baker Hughes’s dividend payout ratio is presently 30.87%.

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.