Baker Hughes (NASDAQ:BKR) Given New $48.00 Price Target at Stifel Nicolaus

Baker Hughes (NASDAQ:BKR) had its target price lifted by Stifel Nicolaus from $45.00 to $48.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on BKR. Susquehanna upped their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. TD Cowen upped their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Morgan Stanley lifted their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $43.55 on Monday. The business has a fifty day moving average of $38.73 and a 200-day moving average of $35.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The firm has a market cap of $43.09 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter last year, the company posted $0.42 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently made changes to their positions in BKR. Hotchkis & Wiley Capital Management LLC boosted its stake in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the period. Yaupon Capital Management LP acquired a new position in shares of Baker Hughes during the third quarter worth about $47,296,000. Eagle Asset Management Inc. grew its holdings in shares of Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after buying an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after buying an additional 817,227 shares during the last quarter. Finally, Groupama Asset Managment lifted 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 in the last quarter. 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.