Brokerages Set Baker Hughes (NASDAQ:BKR) PT at $40.94

Shares of Baker Hughes (NASDAQ:BKR) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $40.94.

Several research analysts have recently weighed in on BKR shares. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Finally, TD Cowen raised their price objective 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.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on 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 in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction 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 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. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

A number of institutional investors have recently modified their holdings of the company. Spire Wealth Management boosted its holdings in shares of Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Baker Hughes during the first quarter worth $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth $33,000. Montag A & Associates Inc. boosted its position in shares of Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Baker Hughes in the third quarter valued at about $36,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Down 0.0 %

Baker Hughes stock opened at $31.92 on Wednesday. Baker Hughes has a one year low of $26.96 and a one year high of $37.58. The business’s fifty day moving average is $32.31 and its 200 day moving average is $32.48. The stock has a market capitalization of $31.95 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

About Baker Hughes

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.