Barclays Lowers Baker Hughes (NASDAQ:BKR) Price Target to $41.00

Baker Hughes (NASDAQ:BKR) had its target price decreased by equities researchers at Barclays from $42.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 11.17% from the stock’s current price.

Other analysts have also issued reports about the stock. Susquehanna boosted their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their target price on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, TD Cowen lifted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.59.

Baker Hughes Stock Performance

NASDAQ BKR traded up $0.56 during trading hours on Wednesday, hitting $36.88. The company’s stock had a trading volume of 1,789,626 shares, compared to its average volume of 7,238,484. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company’s 50 day simple moving average is $35.41 and its two-hundred day simple moving average is $34.23. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a market cap of $36.81 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Baker Hughes will post 2.25 EPS for the current fiscal year.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the sale, the chief executive officer now directly owns 616,339 shares in the company, valued at $23,759,868.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the business. Paragon Capital Management Inc. purchased a new stake in shares of Baker Hughes in the third quarter valued at approximately $796,000. Vontobel Holding Ltd. raised its position in Baker Hughes by 12.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 178,831 shares of the company’s stock valued at $6,465,000 after purchasing an additional 20,047 shares in the last quarter. Magnus Financial Group LLC purchased a new position in shares of Baker Hughes during the third quarter valued at $201,000. Swedbank AB increased its position in Baker Hughes by 24.2% during the 3rd quarter. Swedbank AB now owns 656,571 shares of the company’s stock valued at $23,735,000 after purchasing an additional 128,031 shares during the period. Finally, NBC Securities Inc. bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $294,000. 92.06% of the stock is currently owned by institutional investors.

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.