UBS Group Boosts Baker Hughes (NASDAQ:BKR) Price Target to $36.00

Baker Hughes (NASDAQ:BKR) had its price target hoisted by equities researchers at UBS Group from $35.00 to $36.00 in a research report issued to clients and investors on Tuesday. UBS Group’s target price indicates a potential upside of 9.32% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Citigroup reduced their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday. TD Cowen increased their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.47 during midday trading on Tuesday, reaching $32.93. The company had a trading volume of 3,638,934 shares, compared to its average volume of 8,685,756. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The company has a market capitalization of $32.96 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.62 and a beta of 1.42. The firm’s fifty day simple moving average is $31.74 and its 200-day simple moving average is $32.56.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently made changes to their positions in BKR. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baker Hughes in the fourth quarter valued at about $33,000. Montag A & Associates Inc. boosted its holdings in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Baker Hughes during the third quarter worth about $36,000. Finally, Rational Advisors LLC lifted its position in Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the period. Institutional investors and hedge funds 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.