Brokerages Set Baker Hughes (NASDAQ:BKR) Price Target at $44.76

Baker Hughes (NASDAQ:BKR) has been assigned an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $45.12.

A number of equities research analysts recently commented on BKR shares. UBS Group decreased their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Barclays raised their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKR. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the period. Yaupon Capital Management LP purchased a new stake in Baker Hughes in the third quarter valued at approximately $47,296,000. Eagle Asset Management Inc. boosted its position in Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after buying an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after buying an additional 817,227 shares during the period. Finally, Groupama Asset Managment raised its position in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.4 %

Shares of BKR opened at $42.15 on Thursday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a 50 day simple moving average of $40.55 and a two-hundred day simple moving average of $36.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market cap of $41.71 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the firm posted $0.42 EPS. Baker Hughes’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.99%. Baker Hughes’s payout ratio is 37.67%.

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.