Baker Hughes (NASDAQ:BKR) Receives $51.06 Average Price Target from Analysts

Baker Hughes (NASDAQ:BKR) has received an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $51.06.

BKR has been the subject of several research analyst reports. Evercore ISI raised their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company increased their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Susquehanna lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd.

Baker Hughes Stock Down 1.3 %

Shares of BKR opened at $43.08 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.65 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company’s 50-day moving average price is $44.81 and its 200 day moving average price is $41.67. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.14%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was 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 of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

A number of large investors have recently made changes to their positions in BKR. Capital Research Global Investors lifted its stake in Baker Hughes by 0.6% in the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock valued at $1,135,744,000 after buying an additional 177,232 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after acquiring an additional 465,832 shares during the period. Norges Bank purchased a new stake in Baker Hughes in the 4th quarter valued at $829,092,000. FMR LLC boosted its stake in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Baker Hughes by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock worth $473,880,000 after purchasing an additional 874,297 shares during the last quarter. 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.