Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at Stifel Nicolaus

Baker Hughes (NASDAQ:BKR) had its price target boosted by Stifel Nicolaus from $50.00 to $52.00 in a research note issued to investors on Monday, MarketBeat.com reports. They currently have a buy rating on the stock.

BKR has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, September 30th. Capital One Financial raised their price target on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Seaport Res Ptn cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Baker Hughes in a report on Wednesday, October 8th. Finally, Zephirin Group raised their price target on Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Twenty-three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.29.

Baker Hughes Price Performance

NASDAQ BKR opened at $46.60 on Monday. The company has a market capitalization of $45.94 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. 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 business’s fifty day moving average is $46.60 and its 200 day moving average is $41.81. Baker Hughes has a fifty-two week low of $33.60 and a fifty-two week high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its 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 return on equity of 14.22% and a net margin of 10.43%. Sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Insider Activity

In other 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 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 $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares in the company, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its holdings in shares of Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after purchasing an additional 17,035 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Baker Hughes by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company’s stock worth $1,075,000 after acquiring an additional 8,351 shares during the last quarter. Principal Financial Group Inc. increased its stake in Baker Hughes by 7.2% during the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company’s stock worth $54,462,000 after acquiring an additional 82,706 shares during the last quarter. Stack Financial Management Inc bought a new stake in Baker Hughes during the first quarter worth approximately $12,890,000. Finally, DAVENPORT & Co LLC bought a new stake in Baker Hughes during the first quarter worth approximately $233,000. 92.06% of the stock is owned by institutional investors.

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.