Baker Hughes (NASDAQ:BKR) Receives $43.38 Consensus PT from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $43.38.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group upped their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. UBS Group lifted their price target on Baker Hughes from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Baker Hughes in the 4th quarter worth $551,555,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Baker Hughes during the 1st quarter worth about $117,083,000. Goldman Sachs Group Inc. increased its position in Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.1 %

Shares of BKR stock opened at $34.11 on Tuesday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The business’s fifty day moving average price is $35.24 and its 200 day moving average price is $33.30. The firm has a market capitalization of $34.04 billion, a PE ratio of 19.06, a P/E/G ratio of 0.57 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts forecast that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 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.