Jefferies Financial Group Increases Baker Hughes (NASDAQ:BKR) Price Target to $46.00

Baker Hughes (NASDAQ:BKR) had its price objective boosted by equities research analysts at Jefferies Financial Group from $45.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 30.79% from the company’s current price.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. UBS Group raised their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Morgan Stanley lifted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Finally, Susquehanna reiterated a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $41.27.

Baker Hughes Stock Performance

Shares of BKR opened at $35.17 on Friday. The firm’s 50 day moving average is $32.61 and its 200-day moving average is $32.04. The stock has a market capitalization of $35.10 billion, a P/E ratio of 19.65, a P/E/G ratio of 0.59 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the business’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 sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Norges Bank bought a new stake in Baker Hughes during the 4th quarter worth about $551,555,000. Morgan Stanley raised its holdings in Baker Hughes by 8.6% during the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after purchasing an additional 1,395,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Baker Hughes by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock worth $227,579,000 after purchasing an additional 204,839 shares during the last quarter. 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.