Baker Hughes (NASDAQ:BKR) Given New $55.00 Price Target at Piper Sandler

Baker Hughes (NASDAQ:BKR) had its price objective raised by investment analysts at Piper Sandler from $53.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 17.12% from the stock’s current price.

BKR has been the subject of a number of other reports. Citigroup raised their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Susquehanna raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $49.24.

Baker Hughes Trading Up 1.7 %

NASDAQ:BKR traded up $0.78 during midday trading on Monday, hitting $46.96. 3,176,073 shares of the company traded hands, compared to its average volume of 7,566,447. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $43.03 and its 200-day moving average is $39.12. The firm has a market capitalization of $46.47 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.60.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts predict that Baker Hughes will post 2.55 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of 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 valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after buying an additional 22,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Baker Hughes by 0.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after buying an additional 45,324 shares during the last quarter. 92.06% of the stock is 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.