Baker Hughes (NASDAQ:BKR) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Baker Hughes (NASDAQ:BKR) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $43.00 target price on the stock.

Several other equities analysts have also recently commented on BKR. Citigroup reduced their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Evercore ISI increased their price target 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. Finally, UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $37.52 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. The business has a 50-day moving average of $35.70 and a 200-day moving average of $34.39.

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

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the sale, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently made changes to their positions in BKR. UMB Bank n.a. grew its position in Baker Hughes by 18.4% during the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after buying an additional 398 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its position in Baker Hughes by 6.9% during the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock valued at $253,000 after buying an additional 467 shares during the period. Lake Street Advisors Group LLC lifted its stake in Baker Hughes by 8.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock worth $235,000 after acquiring an additional 515 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after acquiring an additional 520 shares during the period. Institutional investors and hedge funds 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.