Baker Hughes (NASDAQ:BKR) Price Target Raised to $46.00 at Barclays

Baker Hughes (NASDAQ:BKR) had its target price raised by analysts at Barclays from $41.00 to $46.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 22.60% from the stock’s current price.

Other analysts also recently issued research reports about the company. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Friday, July 26th. UBS Group reduced their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus raised their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Trading Up 2.0 %

Baker Hughes stock opened at $37.52 on Thursday. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The firm’s 50 day moving average price is $35.64 and its two-hundred day moving average price is $34.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. On average, research analysts predict that Baker Hughes will post 2.25 EPS for the current fiscal year.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Baker Hughes by 8.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock worth $782,000 after buying an additional 1,829 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in Baker Hughes by 19.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock valued at $740,000 after purchasing an additional 3,671 shares during the period. Hennessy Advisors Inc. acquired a new stake in Baker Hughes in the 1st quarter worth $5,611,000. Occidental Asset Management LLC bought a new position in shares of Baker Hughes during the 1st quarter worth about $1,861,000. Finally, Diversified Trust Co raised its position in shares of Baker Hughes by 98.7% during the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after buying an additional 24,850 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

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.