Baker Hughes (NASDAQ:BKR) Given New $55.00 Price Target at Barclays

Baker Hughes (NASDAQ:BKR) had its price target upped by Barclays from $53.00 to $55.00 in a research note released on Monday, Marketbeat reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on BKR. Piper Sandler increased their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada increased their price target on shares of Baker Hughes from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. TD Cowen increased their price objective on shares of Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Baker Hughes in a research report on Wednesday, July 30th. Twenty-three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $53.29.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $46.60 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $45.94 billion, a P/E ratio of 16.07, a P/E/G ratio of 2.04 and a beta of 0.99. Baker Hughes has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The firm’s 50 day moving average is $46.60 and its two-hundred day moving average is $41.81.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. Analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Insiders Place Their Bets

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Baker Hughes during the 1st quarter valued at $28,000. Golden State Wealth Management LLC boosted its stake in Baker Hughes by 678.7% during the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company’s stock valued at $30,000 after acquiring an additional 604 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Baker Hughes during the 1st quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after acquiring an additional 337 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after acquiring an additional 326 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.