Baker Hughes (NASDAQ:BKR) PT Raised to $46.00

Baker Hughes (NASDAQ:BKR) had its price target lifted by Jefferies Financial Group from $45.00 to $46.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Benchmark reaffirmed a buy rating and set a $40.00 target price on shares of Baker Hughes in a report on Wednesday, April 24th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Susquehanna reissued a positive rating and set a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. UBS Group lifted their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of Moderate Buy and an average price target of $41.27.

Baker Hughes Stock Up 2.2 %

BKR stock opened at $35.17 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The firm has a 50 day simple moving average of $32.61 and a 200-day simple moving average of $32.04. The company has a market capitalization of $35.10 billion, a P/E ratio of 19.65, a PEG ratio of 0.59 and a beta of 1.43. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities research analysts predict that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now directly owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now directly owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. Corporate 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 made changes to their positions in BKR. DekaBank Deutsche Girozentrale grew its position in Baker Hughes by 29.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 420,504 shares of the company’s stock worth $14,038,000 after buying an additional 96,471 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Baker Hughes by 55.8% in the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after acquiring an additional 3,339 shares during the last quarter. Swedbank AB acquired a new stake in shares of Baker Hughes during the first quarter worth $17,706,000. Wahed Invest LLC lifted its holdings in shares of Baker Hughes by 11.9% during the first quarter. Wahed Invest LLC now owns 19,356 shares of the company’s stock valued at $648,000 after purchasing an additional 2,058 shares during the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the 1st quarter valued at $34,000. 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.