The Goldman Sachs Group Boosts Baker Hughes (NASDAQ:BKR) Price Target to $38.00

Baker Hughes (NASDAQ:BKR) had its target price hoisted by The Goldman Sachs Group from $36.00 to $38.00 in a research report released on Tuesday.

Several other research firms have also commented on BKR. Royal Bank of Canada reissued an outperform rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Citigroup reduced their target price on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a report on Friday, January 26th. Susquehanna restated a positive rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Finally, Barclays lowered their target price on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of Moderate Buy and a consensus target price of $41.00.

Baker Hughes Trading Up 1.7 %

NASDAQ BKR opened at $33.00 on Tuesday. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company’s 50-day simple moving average is $31.82 and its two-hundred day simple moving average is $32.55.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. Equities analysts forecast that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. Baker Hughes’s payout ratio is currently 43.98%.

Insider Activity

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its position in Baker Hughes by 857.0% during the first quarter. Venturi Wealth Management LLC now owns 2,517 shares of the company’s stock valued at $84,000 after acquiring an additional 2,254 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Baker Hughes by 171.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 114,957 shares of the company’s stock valued at $3,851,000 after purchasing an additional 72,642 shares during the period. Norden Group LLC purchased a new stake in Baker Hughes during the first quarter worth $2,392,000. Bourgeon Capital Management LLC grew its position in Baker Hughes by 1.1% during the first quarter. Bourgeon Capital Management LLC now owns 217,860 shares of the company’s stock valued at $7,298,000 after buying an additional 2,441 shares during the period. Finally, Redmont Wealth Advisors LLC purchased a new position in Baker Hughes in the first quarter valued at $27,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.