Barclays Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price target increased by Barclays from $51.00 to $55.00 in a research report report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Susquehanna boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Trading Up 1.2 %

Shares of BKR opened at $47.96 on Tuesday. Baker Hughes has a one year low of $28.32 and a one year high of $48.04. The stock has a 50-day moving average price of $43.11 and a 200 day moving average price of $39.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company 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.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. Sell-side analysts forecast that Baker Hughes will post 2.55 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 28.19%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of institutional investors have recently made changes to their positions in the stock. Cromwell Holdings LLC raised its holdings in Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after purchasing an additional 269 shares in the last quarter. Bridges Investment Management Inc. raised its stake in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after buying an additional 273 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares during the period. Graypoint LLC boosted its stake in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares in the last quarter. Finally, Key Financial Inc grew its holdings in Baker Hughes by 16.3% during the fourth quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after acquiring an additional 376 shares during the period. 92.06% of the stock is 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.