Baker Hughes (NASDAQ:BKR) Earns “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a research note published on Thursday, Benzinga reports. They currently have a $42.00 price target on the stock.

Other analysts have also issued research reports about the company. TD Cowen upped their target price on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Bank of America decreased their price objective on Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Evercore ISI lifted their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, UBS Group lowered their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.12.

Baker Hughes Trading Up 2.0 %

NASDAQ BKR opened at $37.52 on Thursday. The stock has a market cap of $37.44 billion, a PE ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company’s 50-day moving average price is $35.70 and its 200-day moving average price is $34.39. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. grew its position in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after acquiring an additional 291 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock valued at $1,079,000 after purchasing an additional 398 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its holdings in shares of Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the period. Lake Street Advisors Group LLC increased its position 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 worth $235,000 after purchasing an additional 515 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in shares of Baker Hughes by 5.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after purchasing an additional 520 shares during the last quarter. Hedge funds and other 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.