Brokerages Set Baker Hughes (NASDAQ:BKR) Target Price at $51.06

Shares of Baker Hughes (NASDAQ:BKR) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $51.06.

Several equities research analysts recently issued reports on BKR shares. Susquehanna lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays increased their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd.

Baker Hughes Price Performance

BKR opened at $44.60 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The stock has a fifty day moving average price of $44.96 and a 200 day moving average price of $41.50. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Several large investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC grew its stake in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the 4th quarter worth $30,000. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Finally, Groupama Asset Managment increased its stake in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the period. Institutional investors 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.