Baker Hughes (NYSE:BKR) Price Target Lowered to $41.00 at Susquehanna

Baker Hughes (NYSE:BKRGet Rating) had its target price reduced by stock analysts at Susquehanna from $42.00 to $41.00 in a research note issued on Thursday, The Fly reports. Susquehanna’s price target would indicate a potential upside of 16.05% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Stephens boosted their price objective on shares of Baker Hughes from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, January 21st. UBS Group lifted their target price on shares of Baker Hughes from $28.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, March 18th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $43.00 in a research note on Thursday, March 31st. The Goldman Sachs Group cut shares of Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 target price for the company. in a research note on Tuesday, March 22nd. Finally, Bank of America reiterated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Baker Hughes in a research note on Friday, January 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.89.

Shares of BKR opened at $35.33 on Thursday. The company’s 50 day moving average price is $34.15 and its 200 day moving average price is $28.40. Baker Hughes has a 52 week low of $18.75 and a 52 week high of $39.78. The company has a market capitalization of $36.30 billion, a PE ratio of -98.14 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.21 and a current ratio of 1.65.

Baker Hughes (NYSE:BKRGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). Baker Hughes had a negative net margin of 1.06% and a positive return on equity of 3.14%. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 1.27 earnings per share for the current fiscal year.

In related news, major shareholder Electric Co General sold 50,097,840 shares of the business’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $25.98, for a total transaction of $1,301,541,883.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maria C. Borras sold 19,632 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $33.94, for a total transaction of $666,310.08. The disclosure for this sale can be found here. Insiders have sold 50,226,387 shares of company stock worth $1,305,169,753 in the last ninety days. 0.34% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in BKR. Capital Research Global Investors increased its holdings in Baker Hughes by 48.9% in the 4th quarter. Capital Research Global Investors now owns 86,254,355 shares of the company’s stock valued at $2,075,278,000 after buying an additional 28,319,193 shares during the period. Norges Bank bought a new stake in Baker Hughes in the 4th quarter valued at $501,229,000. Capital World Investors increased its holdings in Baker Hughes by 17.4% in the 3rd quarter. Capital World Investors now owns 101,199,348 shares of the company’s stock valued at $2,502,707,000 after buying an additional 15,012,092 shares during the period. BlackRock Inc. increased its holdings in Baker Hughes by 13.0% in the 3rd quarter. BlackRock Inc. now owns 78,927,669 shares of the company’s stock valued at $1,951,881,000 after buying an additional 9,103,110 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Baker Hughes in the 4th quarter valued at $140,730,000. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

About Baker Hughes (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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