Baker Hughes (NASDAQ:BKR) PT Raised to $45.00

Baker Hughes (NASDAQ:BKR) had its target price upped by equities researchers at BMO Capital Markets from $43.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 19.36% from the stock’s current price.

BKR has been the subject of several other research reports. Morgan Stanley boosted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Citigroup decreased their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 27th. The Goldman Sachs Group upped their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Piper Sandler decreased their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $43.65.

Baker Hughes Price Performance

Shares of BKR opened at $37.70 on Thursday. The company has a market capitalization of $37.45 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The business’s 50-day moving average is $35.30 and its 200-day moving average is $34.17.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities research analysts expect that Baker Hughes will post 2.25 EPS for the current fiscal year.

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC acquired a new position in Baker Hughes during the first quarter worth $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes during the first quarter worth $34,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes during the second quarter worth $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes during the second quarter worth $48,000. Finally, UMB Bank n.a. grew its holdings in shares of Baker Hughes by 281.2% during the first quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock worth $53,000 after purchasing an additional 1,167 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.