Jefferies Financial Group Raises Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its target price boosted by stock analysts at Jefferies Financial Group from $46.00 to $48.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 28.14% from the company’s current price.

Several other brokerages also recently issued reports on BKR. TD Cowen lifted their price objective on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on Baker Hughes from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday. Susquehanna lifted their price objective on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research report on Friday. Finally, The Goldman Sachs Group lifted their price objective on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $42.43.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.19 during midday trading on Monday, hitting $37.46. 1,401,315 shares of the company were exchanged, compared to its average volume of 7,518,425. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The firm has a market cap of $37.39 billion, a P/E ratio of 21.10, a PEG ratio of 0.64 and a beta of 1.41. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.98. The firm has a 50 day simple moving average of $33.64 and a 200-day simple moving average of $32.25.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Research analysts forecast that Baker Hughes will post 2.11 earnings per share for the current year.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in shares of Baker Hughes during the fourth quarter worth about $4,813,000. Twin Tree Management LP boosted its position in Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock valued at $11,348,000 after purchasing an additional 219,060 shares during the last quarter. Cibc World Markets Corp boosted its position in Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after purchasing an additional 102,174 shares during the last quarter. Caxton Associates LP acquired a new position in Baker Hughes during the fourth quarter valued at approximately $13,672,000. Finally, Russell Investments Group Ltd. boosted its position in Baker Hughes by 101.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,383,918 shares of the company’s stock valued at $81,484,000 after purchasing an additional 1,200,407 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.