UBS Group Boosts Baker Hughes (NASDAQ:BKR) Price Target to $36.00

Baker Hughes (NASDAQ:BKR) had its price objective upped by UBS Group from $35.00 to $36.00 in a report published on Tuesday morning.

Several other analysts have also recently issued reports on BKR. Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Barclays dropped their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a report on Friday, January 26th. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday. Susquehanna reaffirmed a positive rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Finally, TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of Moderate Buy and a consensus price target of $41.00.

Baker Hughes Stock Up 1.7 %

Baker Hughes stock opened at $33.00 on Tuesday. The company has a market capitalization of $33.03 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The firm has a 50 day moving average price of $31.82 and a 200 day moving average price of $32.55.

Baker Hughes (NASDAQ:BKR) last posted 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. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Insider Transactions at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated Friday, April 5th. The stock was 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 of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of BKR. CWM LLC increased its holdings in Baker Hughes by 29.5% during the 3rd quarter. CWM LLC now owns 15,268 shares of the company’s stock worth $539,000 after purchasing an additional 3,475 shares in the last quarter. AE Wealth Management LLC raised its position in Baker Hughes by 37.4% in the 3rd quarter. AE Wealth Management LLC now owns 40,852 shares of the company’s stock valued at $1,443,000 after buying an additional 11,112 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Baker Hughes in the 3rd quarter valued at approximately $201,000. Miller Howard Investments Inc. NY boosted its position in Baker Hughes by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after acquiring an additional 303 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth approximately $1,809,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

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.