Baker Hughes (NASDAQ:BKR) Price Target Cut to $54.00 by Analysts at Barclays

Baker Hughes (NASDAQ:BKR) had its price target reduced by Barclays from $55.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 20.54% from the stock’s previous close.

Several other research firms also recently commented on BKR. Bank of America upped their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.00.

Baker Hughes Trading Up 1.9 %

NASDAQ:BKR opened at $44.80 on Monday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $44.71 and its 200 day moving average is $41.95. The stock has a market capitalization of $44.36 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC raised its stake in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after acquiring an additional 216 shares in the last quarter. True Wealth Design LLC lifted its holdings 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 worth $31,000 after acquiring an additional 829 shares during the last quarter. Finally, Groupama Asset Managment boosted 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 purchasing an additional 811,711 shares in the last quarter. 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.