Baker Hughes (NASDAQ:BKR) Price Target Raised to $53.00

Baker Hughes (NASDAQ:BKR) had its target price boosted by Royal Bank of Canada from $49.00 to $53.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Barclays raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler raised their price target on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group upped their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.18.

Baker Hughes Stock Up 1.9 %

Shares of BKR stock opened at $48.85 on Monday. The company has a 50 day simple moving average of $43.20 and a two-hundred day simple moving average of $39.28. The stock has a market cap of $48.34 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a 12 month low of $28.63 and a 12 month high of $48.94. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts expect that Baker Hughes will post 2.55 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.88%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of BKR. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC raised its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in Baker Hughes during the 4th quarter valued at $45,000. 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.