Baker Hughes (NASDAQ:BKR) Receives $43.38 Average Price Target from Brokerages

Baker Hughes (NASDAQ:BKR) has received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.38.

A number of equities analysts have recently weighed in on BKR shares. Piper Sandler lowered their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. TD Cowen lifted their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley reduced their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, UBS Group cut their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th.

Baker Hughes Price Performance

Shares of BKR opened at $36.15 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $35.20 and its 200 day simple moving average is $33.90. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 0.59 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last announced 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 return on equity of 12.45% and a net margin of 7.37%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.32%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares of the company’s stock, valued at $23,759,868.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently bought and sold shares of BKR. Price T Rowe Associates Inc. MD raised its position in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after buying an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after acquiring an additional 612,715 shares in the last quarter. 92.06% of the stock is currently 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.