Baker Hughes (NASDAQ:BKR) Given Consensus Rating of “Moderate Buy” by Brokerages

Baker Hughes (NASDAQ:BKR) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $41.13.

BKR has been the topic of a number of research reports. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. UBS Group boosted their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley raised their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Finally, The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd.

Insider Buying and Selling at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in Baker Hughes by 29.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 420,504 shares of the company’s stock worth $14,038,000 after buying an additional 96,471 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Baker Hughes by 55.8% during the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after acquiring an additional 3,339 shares in the last quarter. Swedbank AB bought a new stake in shares of Baker Hughes during the 1st quarter worth about $17,706,000. Wahed Invest LLC increased its holdings in shares of Baker Hughes by 11.9% during the 1st quarter. Wahed Invest LLC now owns 19,356 shares of the company’s stock valued at $648,000 after acquiring an additional 2,058 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $34.47 on Thursday. The firm’s 50-day simple moving average is $32.47 and its 200 day simple moving average is $31.99. The stock has a market cap of $34.40 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.60 and a beta of 1.43. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.