Baker Hughes (NASDAQ:BKR) Earns Neutral Rating from UBS Group

Baker Hughes (NASDAQ:BKR)‘s stock had its “neutral” rating reaffirmed by analysts at UBS Group in a research note issued on Wednesday, Marketbeat reports. They presently have a $46.00 price objective on the stock, up from their previous price objective of $43.00. UBS Group’s price objective points to a potential upside of 2.11% from the stock’s current price.

A number of other research analysts have also issued reports on BKR. Piper Sandler reduced their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Citigroup decreased their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. TD Securities cut their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Baker Hughes Trading Down 1.1%

NASDAQ:BKR opened at $45.05 on Wednesday. The firm has a market capitalization of $44.63 billion, a P/E ratio of 14.72, a P/E/G ratio of 5.60 and a beta of 0.91. The business has a 50 day simple moving average of $39.58 and a 200 day simple moving average of $41.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. Baker Hughes has a 12-month low of $32.25 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BKR. Wayfinding Financial LLC acquired a new stake in shares of Baker Hughes during the first quarter worth $28,000. N.E.W. Advisory Services LLC purchased a new position in Baker Hughes in the 1st quarter worth about $30,000. Golden State Wealth Management LLC raised its holdings in Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock worth $30,000 after buying an additional 604 shares during the period. Grove Bank & Trust lifted its stake in Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company’s stock valued at $33,000 after buying an additional 320 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after buying an additional 465 shares during the period. Institutional investors 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.