Baker Hughes (NASDAQ:BKR) Given New $50.00 Price Target at Citigroup

Baker Hughes (NASDAQ:BKR) had its price target lifted by Citigroup from $42.00 to $50.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus lifted their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Jefferies Financial Group boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group lifted their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $42.94 on Thursday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $37.48 and a 200 day simple moving average of $35.24. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $44.49. The stock has a market cap of $42.49 billion, a P/E ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Research analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Institutional Trading of Baker Hughes

A number of hedge funds have recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter worth about $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the period. Groupama Asset Managment raised its stake in Baker Hughes by 1,045.1% in the 3rd 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 during the period. New Covenant Trust Company N.A. bought a new position in Baker Hughes during the first quarter worth about $34,000. Finally, Continuum Advisory LLC increased its stake in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. 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.