Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at JPMorgan Chase & Co.

Baker Hughes (NASDAQ:BKR) had its price target upped by equities researchers at JPMorgan Chase & Co. from $50.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 12.60% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler initiated coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. Royal Bank of Canada lifted their price objective on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.59.

Baker Hughes Price Performance

Shares of BKR opened at $46.18 on Monday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.60. The business’s fifty day moving average is $43.03 and its 200 day moving average is $39.12. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a market cap of $45.70 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts anticipate that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Groupama Asset Managment raised its holdings in Baker Hughes by 1,045.1% in the third 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. Finally, Continuum Advisory LLC raised its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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.