Jefferies Financial Group Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its target price boosted by Jefferies Financial Group from $48.00 to $50.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

BKR has been the subject of a number of other research reports. Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Citigroup boosted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Piper Sandler began coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $47.12.

Baker Hughes Stock Performance

BKR opened at $42.66 on Friday. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The business has a 50 day moving average price of $41.61 and a two-hundred day moving average price of $37.52.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the third quarter worth $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the period. Continuum Advisory LLC boosted its holdings in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the period. Alta Advisers Ltd bought a new stake in Baker Hughes during the second quarter valued at about $42,000. Finally, Headlands Technologies LLC bought a new stake in Baker Hughes during the second quarter valued at about $48,000. 92.06% of the stock is owned by institutional investors and hedge funds.

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.