Baker Hughes Company (NASDAQ:BKR) Receives $58.30 Average Price Target from Analysts

Baker Hughes Company (NASDAQ:BKR) has been assigned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $58.7826.

Several equities research analysts have commented on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Baker Hughes in a report on Wednesday, February 11th. Wall Street Zen upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Susquehanna upped their price target on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, January 27th. UBS Group upped their price objective on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Evercore set a $54.00 price objective on Baker Hughes in a report on Monday, October 27th.

Baker Hughes Stock Down 0.3%

Shares of NASDAQ:BKR opened at $61.20 on Tuesday. The business’s 50 day moving average is $51.44 and its 200 day moving average is $48.44. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The stock has a market cap of $60.48 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. Baker Hughes has a 52-week low of $33.60 and a 52-week high of $62.27.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s payout ratio is currently 35.38%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, insider Maria Georgia Magno sold 19,150 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the sale, the insider directly owned 14,588 shares in the company, valued at $862,296.68. This represents a 56.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Baker Hughes

Large investors have recently made changes to their positions in the company. Activest Wealth Management grew its holdings in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after acquiring an additional 497 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. Quarry LP acquired a new position in shares of Baker Hughes during the 4th quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.