Baker Hughes (NASDAQ:BKR) Receives Average Rating of “Moderate Buy” from Analysts

Baker Hughes (NASDAQ:BKR) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.13.

A number of analysts have commented on BKR shares. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. The Goldman Sachs Group upped their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. UBS Group upped their target price on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Morgan Stanley upped their target price on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its stake in Baker Hughes by 29.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 420,504 shares of the company’s stock worth $14,038,000 after purchasing an additional 96,471 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Baker Hughes by 55.8% in the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after buying an additional 3,339 shares during the last quarter. Swedbank AB bought a new stake in shares of Baker Hughes in the 1st quarter worth about $17,706,000. Wahed Invest LLC increased its holdings in shares of Baker Hughes by 11.9% in the 1st quarter. Wahed Invest LLC now owns 19,356 shares of the company’s stock worth $648,000 after buying an additional 2,058 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the 1st quarter worth about $34,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Up 0.3 %

Shares of NASDAQ:BKR opened at $32.14 on Thursday. The business’s 50-day moving average is $32.40 and its 200-day moving average is $31.96. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The company has a market capitalization of $32.08 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 0.55 and a beta of 1.43.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts predict that Baker Hughes will post 2.09 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. Baker Hughes’s dividend payout ratio (DPR) is currently 46.93%.

Baker Hughes Company Profile

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.