Baker Hughes (NYSE:BKR) Upgraded to “Buy” at HSBC

Baker Hughes (NYSE:BKRGet Rating) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.

Several other research analysts also recently commented on the company. Susquehanna reduced their price objective on Baker Hughes from $42.00 to $41.00 and set a “positive” rating on the stock in a report on Thursday, April 21st. Stephens lifted their price objective on Baker Hughes from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, January 21st. Morgan Stanley increased their target price on shares of Baker Hughes from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, April 11th. The Goldman Sachs Group lowered shares of Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 price target for the company. in a report on Tuesday, March 22nd. Finally, Cowen increased their price objective on shares of Baker Hughes from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, January 21st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Buy” and a consensus price target of $35.74.

Shares of BKR opened at $30.74 on Tuesday. The firm has a fifty day moving average price of $34.34 and a 200-day moving average price of $28.59. The company has a current ratio of 1.61, a quick ratio of 1.21 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $31.58 billion, a P/E ratio of 93.15 and a beta of 1.52. Baker Hughes has a 12-month low of $19.23 and a 12-month high of $39.78.

Baker Hughes (NYSE:BKRGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.05). The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Baker Hughes had a net margin of 1.49% and a return on equity of 3.51%. Baker Hughes’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Analysts predict that Baker Hughes will post 1.17 earnings per share for the current year.

In related news, SVP Kurt Camilleri sold 21,423 shares of the company’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $27.18, for a total value of $582,277.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Electric Co General sold 50,097,840 shares of Baker Hughes stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $25.98, for a total value of $1,301,541,883.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,237,752 shares of company stock worth $1,305,562,658. Corporate insiders own 0.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BKR. Duncker Streett & Co. Inc. purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at $25,000. Benjamin Edwards Inc. lifted its position in Baker Hughes by 180.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,075 shares of the company’s stock valued at $26,000 after purchasing an additional 692 shares during the period. Riverview Trust Co purchased a new stake in Baker Hughes in the first quarter valued at $27,000. Allworth Financial LP grew its position in Baker Hughes by 108.8% during the 4th quarter. Allworth Financial LP now owns 1,209 shares of the company’s stock worth $29,000 after purchasing an additional 630 shares during the period. Finally, NEXT Financial Group Inc raised its stake in shares of Baker Hughes by 147.3% during the 4th quarter. NEXT Financial Group Inc now owns 1,182 shares of the company’s stock valued at $29,000 after buying an additional 704 shares during the last quarter. 87.64% of the stock is owned by institutional investors.

Baker Hughes Company Profile (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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