Baker Hughes (NASDAQ:BKR) Price Target Raised to $55.00

Baker Hughes (NASDAQ:BKR) had its target price lifted by Barclays from $53.00 to $55.00 in a research note released on Monday morning, MarketBeat Ratings reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on BKR. TD Cowen upped their price target on Baker Hughes from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Monday. HSBC boosted their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday. UBS Group boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Seaport Res Ptn lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Wednesday, October 8th. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Baker Hughes Trading Up 1.0%

Shares of BKR opened at $48.32 on Monday. The business’s 50-day moving average price is $46.81 and its 200-day moving average price is $41.96. Baker Hughes has a twelve month low of $33.60 and a twelve month high of $50.92. The stock has a market cap of $47.64 billion, a PE ratio of 16.66, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion for the quarter. On average, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 1.9%. Baker Hughes’s dividend payout ratio is currently 31.72%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer owned 11,772 shares of the company’s stock, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

A number of institutional investors have recently made changes to their positions in BKR. Norges Bank purchased a new stake in shares of Baker Hughes during the second quarter valued at approximately $862,722,000. Nuveen LLC purchased a new stake in shares of Baker Hughes during the first quarter valued at approximately $404,385,000. Pacer Advisors Inc. boosted its stake in shares of Baker Hughes by 2,585.6% during the first quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company’s stock valued at $169,511,000 after purchasing an additional 3,713,301 shares during the period. First Trust Advisors LP boosted its stake in shares of Baker Hughes by 76.0% during the second quarter. First Trust Advisors LP now owns 7,419,033 shares of the company’s stock valued at $284,446,000 after purchasing an additional 3,203,942 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Baker Hughes by 247.5% during the second quarter. Sei Investments Co. now owns 3,134,494 shares of the company’s stock valued at $120,177,000 after purchasing an additional 2,232,394 shares during the period. 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.