JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $50.00 to $52.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 8.42% from the company’s previous close.

BKR has been the topic of a number of other reports. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler assumed coverage on Baker Hughes in a research note on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.18.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $47.96 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $47.46 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.89 and a beta of 1.39. The business has a 50-day moving average of $43.11 and a two-hundred day moving average of $39.20. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $48.04.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities research analysts predict that Baker Hughes will post 2.55 EPS for the current fiscal year.

Insider Activity

In other 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of BKR. National Pension Service lifted its holdings in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares during the period. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes during the 4th quarter valued at about $1,180,000. Artemis Investment Management LLP boosted its position in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after buying an additional 239,773 shares in the last quarter. Finally, Czech National Bank grew its stake in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after buying an additional 12,178 shares during 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.