Jefferies Financial Group Boosts Baker Hughes (NASDAQ:BKR) Price Target to $46.00

Baker Hughes (NASDAQ:BKR) had its target price increased by Jefferies Financial Group from $45.00 to $46.00 in a report released on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Susquehanna restated a positive rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark reiterated a buy rating and set a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Morgan Stanley lifted their price target on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Finally, UBS Group lifted their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $41.27.

Baker Hughes Stock Down 0.7 %

Shares of NASDAQ BKR opened at $34.94 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.58. The firm has a 50-day moving average price of $32.61 and a 200 day moving average price of $32.04. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.60 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Equities research analysts anticipate that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.40%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, 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 SEC, which is available at the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, 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 SEC, which is available at the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares in the company, valued at $2,945,120. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several institutional investors have recently added to or reduced their stakes in BKR. Louisiana State Employees Retirement System acquired a new stake in shares of Baker Hughes during the fourth quarter worth $4,813,000. Nordea Investment Management AB raised its holdings in shares of Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares during the period. Cibc World Markets Corp raised its holdings in shares of Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after purchasing an additional 102,174 shares during the period. Wellington Management Group LLP raised its holdings in shares of Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth $13,672,000. 92.06% of the stock is owned by institutional investors and hedge funds.

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.