Stifel Nicolaus Raises Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its target price boosted by Stifel Nicolaus from $45.00 to $48.00 in a research report released on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other brokerages have also recently commented on BKR. Barclays increased their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Trading Up 0.2 %

Shares of Baker Hughes stock opened at $43.61 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $39.09 and its two-hundred day simple moving average is $35.86. The firm has a market capitalization of $43.15 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 0.73 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Institutional Investors Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $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 in the 3rd quarter valued at $47,296,000. Eagle Asset Management Inc. boosted its stake in Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after acquiring an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.