Barclays Raises Baker Hughes (NASDAQ:BKR) Price Target to $55.00

Baker Hughes (NASDAQ:BKR) had its price target boosted by stock analysts at Barclays from $51.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 16.03% from the company’s current price.

A number of other analysts have also commented on the company. Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Evercore ISI raised their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Stifel Nicolaus upped their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $47.40 on Tuesday. 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 firm has a fifty day simple moving average of $43.03 and a 200 day simple moving average of $39.12. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The company has a market capitalization of $46.90 billion, a PE ratio of 15.91, a P/E/G ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts forecast that Baker Hughes will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Baker Hughes by 39.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,227 shares of the company’s stock worth $360,000 after buying an additional 2,898 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Baker Hughes in the 2nd quarter worth approximately $1,505,000. Park Avenue Securities LLC raised its stake in Baker Hughes by 6.0% during the 3rd quarter. Park Avenue Securities LLC now owns 26,703 shares of the company’s stock valued at $965,000 after buying an additional 1,501 shares during the last quarter. Czech National Bank lifted its holdings in shares of Baker Hughes by 6.4% during the 3rd quarter. Czech National Bank now owns 202,371 shares of the company’s stock valued at $7,316,000 after buying an additional 12,192 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Baker Hughes by 42.9% in the 3rd quarter. GAMMA Investing LLC now owns 7,288 shares of the company’s stock worth $263,000 after buying an additional 2,187 shares during 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.