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

Baker Hughes (NASDAQ:BKR) had its target price raised by Susquehanna from $53.00 to $55.00 in a research report sent to investors on Monday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. BMO Capital Markets lifted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $48.85 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business’s 50 day moving average price is $43.20 and its 200-day moving average price is $39.28. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $48.94. The firm has a market capitalization of $48.34 billion, a PE ratio of 16.39, a P/E/G ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, equities research analysts expect that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s payout ratio is currently 28.19%.

Insider Transactions at Baker Hughes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC lifted its position in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes in the third quarter valued at $30,000. True Wealth Design LLC boosted its position in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares during the last quarter. Institutional investors and hedge funds 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.