Baker Hughes (NASDAQ:BKR) Price Target Raised to $43.00 at Morgan Stanley

Baker Hughes (NASDAQ:BKR) had its price target lifted by Morgan Stanley from $40.00 to $43.00 in a research report released on Tuesday.

Several other research analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Baker Hughes from an outperform rating to a peer perform rating in a research report on Monday, January 29th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, January 26th. Citigroup decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating on the stock in a research report on Friday, January 26th. Susquehanna reiterated a positive rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $40.94.

Baker Hughes Stock Down 1.4 %

Shares of Baker Hughes stock opened at $32.84 on Tuesday. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company’s 50 day moving average is $32.05 and its 200 day moving average is $32.54. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.56%. Baker Hughes’s payout ratio is 46.93%.

Insider Activity at Baker Hughes

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

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the business. Spire Wealth Management lifted its position in Baker Hughes by 256.7% during the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth about $33,000. Montag A & Associates Inc. lifted its holdings in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the 3rd quarter worth about $36,000. 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.