Baker Hughes (NASDAQ:BKR) Receives $43.59 Consensus Target Price from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been assigned an average rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $44.12.

A number of brokerages have commented on BKR. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Morgan Stanley boosted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Bank of America decreased their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 15th.

Baker Hughes Trading Down 0.8 %

Shares of NASDAQ BKR opened at $37.09 on Wednesday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The firm has a market cap of $37.02 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The business has a fifty day simple moving average of $35.80 and a two-hundred day simple moving average of $34.44. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period last year, the firm earned $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.26%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % 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. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently modified their holdings of the business. Park Avenue Securities LLC boosted its position in Baker Hughes by 19.1% during the first quarter. Park Avenue Securities LLC now owns 28,942 shares of the company’s stock worth $970,000 after acquiring an additional 4,636 shares during the last quarter. Viking Fund Management LLC grew its position in shares of Baker Hughes by 273.3% in the first quarter. Viking Fund Management LLC now owns 112,000 shares of the company’s stock valued at $3,752,000 after purchasing an additional 82,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Baker Hughes by 8.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after purchasing an additional 1,829 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in Baker Hughes by 19.9% during the first quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock worth $740,000 after buying an additional 3,671 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Baker Hughes during the first quarter worth approximately $5,611,000. 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.