Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Citigroup Analyst Says

Baker Hughes (NASDAQ:BKR) had its price target lifted by Citigroup from $42.00 to $50.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the stock.

BKR has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.59.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $42.94 on Thursday. The stock has a market cap of $42.49 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.73 and a beta of 1.38. The firm’s 50-day simple moving average is $37.48 and its 200 day simple moving average is $35.21. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Yaupon Capital Management LP acquired a new position in shares of Baker Hughes during the 3rd quarter worth $47,296,000. Eagle Asset Management Inc. raised its holdings in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after purchasing an additional 817,227 shares during the last quarter. Hedge funds and other 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.