Baker Hughes Inc. (BHI) Given a $70.00 Price Target by Susquehanna Analysts
Baker Hughes Inc. (NYSE:BHI) received a $70.00 price objective from equities researchers at Susquehanna in a research report issued on Monday. The firm presently has a “buy” rating on the oilfield services provider’s stock. Susquehanna’s target price indicates a potential upside of 13.69% from the stock’s previous close.
A number of other research firms have also recently commented on BHI. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $41.50 price target on shares of Baker Hughes in a report on Monday, October 31st. Guggenheim reiterated a “buy” rating on shares of Baker Hughes in a report on Thursday, November 10th. Jefferies Group lifted their price target on Baker Hughes from $48.00 to $57.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. DA Davidson reiterated a “buy” rating on shares of Baker Hughes in a report on Monday, November 14th. Finally, TheStreet upgraded Baker Hughes from a “sell” rating to a “hold” rating in a report on Friday, October 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $55.41.
Baker Hughes (NYSE:BHI) opened at 61.57 on Monday. Baker Hughes has a one year low of $37.58 and a one year high of $62.40. The firm’s market capitalization is $26.48 billion. The stock has a 50 day moving average price of $55.67 and a 200-day moving average price of $49.47.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, October 25th. The oilfield services provider reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.29. Baker Hughes had a negative return on equity of 5.07% and a negative net margin of 30.97%. The business earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the company posted ($0.05) earnings per share. Baker Hughes’s quarterly revenue was down 37.8% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post ($1.61) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Baker Hughes’s dividend payout ratio (DPR) is presently -8.89%.
In related news, Director Gregory D. Brenneman acquired 85,000 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were bought at an average price of $58.84 per share, with a total value of $5,001,400.00. Following the transaction, the director now directly owns 89,425 shares of the company’s stock, valued at $5,261,767. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Belgacem Chariag sold 15,000 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $58.09, for a total transaction of $871,350.00. Following the transaction, the vice president now directly owns 76,768 shares in the company, valued at approximately $4,459,453.12. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BHI. River & Mercantile Asset Management LLP raised its stake in Baker Hughes by 94.7% in the second quarter. River & Mercantile Asset Management LLP now owns 70,330 shares of the oilfield services provider’s stock worth $3,173,000 after buying an additional 34,200 shares in the last quarter. First Financial Corp IN raised its stake in Baker Hughes by 5,475.7% in the second quarter. First Financial Corp IN now owns 17,452 shares of the oilfield services provider’s stock worth $788,000 after buying an additional 17,139 shares in the last quarter. Creative Planning raised its stake in Baker Hughes by 27.4% in the second quarter. Creative Planning now owns 4,627 shares of the oilfield services provider’s stock worth $209,000 after buying an additional 996 shares in the last quarter. Alpha Windward LLC raised its stake in Baker Hughes by 17.4% in the second quarter. Alpha Windward LLC now owns 4,646 shares of the oilfield services provider’s stock worth $210,000 after buying an additional 689 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Baker Hughes by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 376,886 shares of the oilfield services provider’s stock worth $17,009,000 after buying an additional 6,894 shares in the last quarter. 92.12% of the stock is currently owned by institutional investors.
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Baker Hughes Company Profile
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.
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