Baker Hughes (NASDAQ:BKR) Price Target Raised to $46.00

Baker Hughes (NASDAQ:BKR) had its price objective lifted by stock analysts at Barclays from $41.00 to $46.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 24.32% from the company’s current price.

A number of other research firms also recently weighed in on BKR. BMO Capital Markets boosted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Cowen lifted their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their target price on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $43.88.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $37.00 on Thursday. The business has a 50-day moving average of $35.61 and a two-hundred day moving average of $34.35. 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 fifty-two week low of $28.32 and a fifty-two week high of $39.05. The stock has a market capitalization of $36.93 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The business 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. On average, equities research analysts predict that Baker Hughes will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Baker Hughes by 41.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock worth $1,448,000 after buying an additional 11,834 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baker Hughes by 32.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,787 shares of the company’s stock valued at $10,150,000 after purchasing an additional 69,046 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Baker Hughes by 8.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after purchasing an additional 515 shares during the period. Ballentine Partners LLC grew its holdings in Baker Hughes by 4.1% during the 3rd quarter. Ballentine Partners LLC now owns 21,568 shares of the company’s stock valued at $780,000 after buying an additional 840 shares in the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Baker Hughes by 5.6% during the third quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock valued at $471,000 after buying an additional 687 shares during the period. 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.