Baker Hughes (NASDAQ:BKR) Receives $48.06 Average Price Target from Brokerages

Baker Hughes (NASDAQ:BKR) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $48.06.

A number of research firms have recently issued reports on BKR. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler assumed coverage on Baker Hughes in a research report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. Susquehanna boosted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Barclays raised their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’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 value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Groupama Asset Managment boosted its position in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 3.5 %

NASDAQ BKR opened at $46.18 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The stock has a market cap of $45.70 billion, a PE ratio of 20.71, a PEG ratio of 0.83 and a beta of 1.39. The firm has a 50-day simple moving average of $43.03 and a 200 day simple moving average of $39.10. 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 (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. On average, research analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 37.67%.

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.