Baker Hughes (NASDAQ:BKR) Receives Buy Rating from Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research note issued on Wednesday, Benzinga reports. They presently have a $40.00 target price on the stock. Benchmark’s price target would indicate a potential upside of 20.12% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday. Citigroup cut their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Susquehanna reiterated a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Up 1.9 %

NASDAQ:BKR opened at $33.30 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market cap of $33.33 billion, a PE ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. The firm has a 50-day moving average of $31.97 and a 200-day moving average of $32.56.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Insider Buying and Selling at Baker Hughes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Spire Wealth Management grew its position in Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after acquiring an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Baker Hughes during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new stake in Baker Hughes during the fourth quarter worth about $33,000. Montag A & Associates Inc. boosted its holdings in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.