Baker Hughes (NASDAQ:BKR) Price Target Raised to $55.00

Baker Hughes (NASDAQ:BKR) had its price objective increased by Piper Sandler from $53.00 to $55.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

BKR has been the topic of a number of other research reports. BMO Capital Markets raised their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada lifted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.18.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $48.85 on Monday. The business has a fifty day moving average price of $43.20 and a two-hundred day moving average price of $39.28. The stock has a market capitalization of $48.34 billion, a PE ratio of 16.39, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a fifty-two week low of $28.63 and a fifty-two week high of $48.94.

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

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 28.19%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. purchased a new stake in Baker Hughes in the 4th quarter valued at $107,155,000. Yaupon Capital Management LP bought a new position in Baker Hughes during the 3rd quarter valued at $47,296,000. Eagle Asset Management Inc. boosted its holdings in Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 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 worth $36,318,000 after acquiring an additional 817,227 shares in the last quarter. Institutional investors and hedge funds 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.