Baker Hughes (NASDAQ:BKR) Given New $43.00 Price Target at Morgan Stanley

Baker Hughes (NASDAQ:BKR) had its target price increased by Morgan Stanley from $40.00 to $43.00 in a report released on Tuesday morning.

Other research analysts also recently issued research reports about the company. Citigroup cut their price target on Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research note on Friday, January 26th. Wolfe Research cut shares of Baker Hughes from an outperform rating to a peer perform rating in a research report on Monday, January 29th. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Susquehanna reaffirmed a positive rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Barclays lowered their target price on Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $41.00.

Baker Hughes Trading Up 1.7 %

Shares of BKR opened at $33.00 on Tuesday. The firm’s 50-day moving average is $31.82 and its two-hundred day moving average is $32.55. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $33.03 billion, a P/E ratio of 17.28, a PEG ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, research analysts predict that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.55%. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Insider Activity

In related news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Institutional investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baker Hughes in the fourth quarter worth about $33,000. Montag A & Associates Inc. grew its stake in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at about $36,000. Finally, Rational Advisors LLC lifted its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after acquiring an additional 382 shares in the last quarter. Hedge funds and other 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.