Baker Hughes (NASDAQ:BKR) Now Covered by Benchmark

Analysts at Benchmark assumed coverage on shares of Baker Hughes (NASDAQ:BKRGet Rating) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. Benchmark’s price target indicates a potential upside of 15.87% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Baker Hughes from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $32.00 to $29.00 in a research report on Wednesday, October 26th. They noted that the move was a valuation call. Citigroup lowered their price objective on shares of Baker Hughes from $40.00 to $36.00 in a research report on Tuesday, October 4th. Morgan Stanley upped their price objective on shares of Baker Hughes from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, January 4th. Royal Bank of Canada decreased their price objective on shares of Baker Hughes from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Finally, Barclays decreased their price objective on shares of Baker Hughes to $38.00 in a report on Thursday, October 20th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.07.

Baker Hughes Stock Performance

Shares of BKR opened at $31.07 on Thursday. Baker Hughes has a 52-week low of $20.42 and a 52-week high of $39.78. The company has a quick ratio of 1.08, a current ratio of 1.51 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $29.37 and a 200 day moving average price of $26.74. The firm has a market capitalization of $31.33 billion, a PE ratio of -67.54, a P/E/G ratio of 0.44 and a beta of 1.48.

Baker Hughes (NASDAQ:BKRGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. Baker Hughes had a negative net margin of 2.36% and a positive return on equity of 4.77%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Baker Hughes will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total transaction of $284,715.22. Following the sale, the executive vice president now directly owns 74,474 shares of the company’s stock, valued at $2,161,235.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gregory D. Brenneman sold 85,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $31.23, for a total transaction of $2,654,550.00. Following the sale, the director now directly owns 16,842 shares of the company’s stock, valued at $525,975.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria C. Borras sold 9,811 shares of the stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $29.02, for a total transaction of $284,715.22. Following the sale, the executive vice president now directly owns 74,474 shares in the company, valued at $2,161,235.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,303 shares of company stock valued at $8,816,980. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently bought and sold shares of BKR. JPMorgan Chase & Co. lifted its holdings in Baker Hughes by 96.8% in the second quarter. JPMorgan Chase & Co. now owns 37,882,259 shares of the company’s stock valued at $1,093,660,000 after buying an additional 18,629,874 shares during the period. FMR LLC lifted its holdings in Baker Hughes by 41.2% in the second quarter. FMR LLC now owns 26,877,366 shares of the company’s stock valued at $775,950,000 after buying an additional 7,836,906 shares during the period. Franklin Resources Inc. lifted its holdings in Baker Hughes by 214.6% in the second quarter. Franklin Resources Inc. now owns 10,398,098 shares of the company’s stock valued at $300,193,000 after buying an additional 7,092,424 shares during the period. Vanguard Group Inc. lifted its holdings in Baker Hughes by 5.7% in the third quarter. Vanguard Group Inc. now owns 119,365,664 shares of the company’s stock valued at $2,501,905,000 after buying an additional 6,456,576 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in Baker Hughes by 443.0% in the third quarter. Ceredex Value Advisors LLC now owns 5,931,026 shares of the company’s stock valued at $124,314,000 after buying an additional 4,838,736 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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 two segments: Oilfield Services & Equipment and Industrial & Energy Technology. The company 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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