Baker Hughes (NASDAQ:BKR) PT Raised to $37.00

Baker Hughes (NASDAQ:BKRGet Rating) had its price objective increased by Evercore ISI from $33.00 to $37.00 in a research report report published on Tuesday, The Fly reports. Evercore ISI currently has an outperform rating on the stock.

BKR has been the subject of a number of other research reports. Jefferies Financial Group assumed coverage on Baker Hughes in a research report on Wednesday, October 19th. They issued a buy rating and a $35.00 target price for the company. Susquehanna lifted their price target on Baker Hughes from $35.00 to $40.00 and gave the stock a positive rating in a research note on Tuesday. Morgan Stanley lifted their price target on Baker Hughes from $32.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, January 4th. Benchmark initiated coverage on Baker Hughes in a research note on Thursday, January 19th. They issued a buy rating and a $36.00 price target on the stock. Finally, Barclays decreased their price target on Baker Hughes to $38.00 in a research note on Thursday, October 20th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of Moderate Buy and a consensus price target of $35.44.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $30.15 on Tuesday. The business has a 50 day moving average of $29.37 and a 200 day moving average of $26.75. The company has a market capitalization of $30.41 billion, a price-to-earnings ratio of -65.54, a PEG ratio of 0.43 and a beta of 1.48. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $39.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.51 and a quick ratio of 1.08.

Baker Hughes (NASDAQ:BKRGet Rating) last released its earnings results on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $6.07 billion. Baker Hughes had a positive return on equity of 4.77% and a negative net margin of 2.36%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. On average, sell-side analysts predict that Baker Hughes will post 0.93 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, November 4th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s payout ratio is -165.22%.

Insider Buying and Selling

In related news, Director Gregory D. Brenneman sold 85,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.23, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Gregory D. Brenneman sold 85,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.23, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rami Qasem sold 72,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares in the company, valued at $1,015,042.83. The disclosure for this sale can be found here. Insiders have sold a total of 285,303 shares of company stock valued at $8,816,980 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC bought a new stake in Baker Hughes in the second quarter worth $27,000. Alpha Paradigm Partners LLC bought a new stake in Baker Hughes in the second quarter worth $29,000. Hallmark Capital Management Inc. bought a new stake in Baker Hughes in the second quarter worth $31,000. Evoke Wealth LLC boosted its holdings in Baker Hughes by 276.1% in the second quarter. Evoke Wealth LLC now owns 1,557 shares of the company’s stock worth $45,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. bought a new stake in Baker Hughes in the third quarter worth $47,000. 97.40% of the stock is owned by 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 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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