Baker Hughes (NASDAQ:BKR) Given New $56.00 Price Target at HSBC

Baker Hughes (NASDAQ:BKR) had its price target hoisted by HSBC from $54.00 to $56.00 in a research report report published on Monday morning,MarketScreener reports. HSBC currently has a buy rating on the stock.

A number of other research analysts have also recently commented on BKR. TD Cowen raised their price target on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup decreased their price target on Baker Hughes from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group raised their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Piper Sandler raised their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Melius began coverage on Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price target on the stock. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Baker Hughes Stock Down 1.5%

BKR opened at $46.60 on Monday. Baker Hughes has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The company has a market capitalization 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. The stock has a fifty day moving average of $46.60 and a 200-day moving average of $41.81.

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

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 4th. Baker Hughes’s payout ratio is currently 31.72%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer owned 11,772 shares in the company, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This represents a 38.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Baker Hughes by 40.1% during the third quarter. Versant Capital Management Inc now owns 2,070 shares of the company’s stock valued at $101,000 after purchasing an additional 593 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Baker Hughes by 82.1% during the third quarter. Concurrent Investment Advisors LLC now owns 63,438 shares of the company’s stock valued at $3,091,000 after purchasing an additional 28,606 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Baker Hughes during the third quarter valued at about $147,000. Nordea Investment Management AB boosted its stake in shares of Baker Hughes by 9.7% during the third quarter. Nordea Investment Management AB now owns 2,445,747 shares of the company’s stock valued at $118,692,000 after purchasing an additional 216,836 shares in the last quarter. Finally, N.E.W. Advisory Services LLC boosted its stake in shares of Baker Hughes by 60.6% during the third quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock valued at $54,000 after purchasing an additional 416 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.