BMO Capital Markets Boosts Baker Hughes (NASDAQ:BKR) Price Target to $55.00

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by analysts at BMO Capital Markets from $53.00 to $55.00 in a note issued to investors on Tuesday,MarketScreener reports. BMO Capital Markets’ price objective suggests a potential upside of 15.72% from the company’s current price.

Several other research analysts have also recently commented on BKR. Capital One Financial boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Barclays boosted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Zephirin Group raised their price target on Baker Hughes from $37.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. HSBC upped their price objective on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Wednesday, October 8th. Twenty-three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.38.

Baker Hughes Stock Down 2.9%

Shares of NASDAQ BKR opened at $47.53 on Tuesday. The stock has a market cap of $46.90 billion, a P/E ratio of 16.39, a PEG ratio of 2.06 and a beta of 1.03. The business’s fifty day simple moving average is $47.42 and its 200-day simple moving average is $42.68. Baker Hughes has a 12-month low of $33.60 and a 12-month high of $50.92. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR) last issued its quarterly 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 for the quarter. As a group, equities analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the 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 owned 40,520 shares in the company, valued at $2,026,000. This represents a 38.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly 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 SEC filing for this sale provides additional information. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cerity Partners LLC grew its stake in shares of Baker Hughes by 18.0% during the 1st quarter. Cerity Partners LLC now owns 183,509 shares of the company’s stock worth $8,065,000 after purchasing an additional 27,929 shares during the period. CWM LLC grew its position in Baker Hughes by 36.3% during the first quarter. CWM LLC now owns 79,276 shares of the company’s stock worth $3,484,000 after buying an additional 21,110 shares during the period. Bleakley Financial Group LLC increased its holdings in Baker Hughes by 4.3% in the first quarter. Bleakley Financial Group LLC now owns 21,896 shares of the company’s stock valued at $962,000 after buying an additional 912 shares in the last quarter. Signaturefd LLC increased its holdings in Baker Hughes by 4.8% in the first quarter. Signaturefd LLC now owns 8,744 shares of the company’s stock valued at $384,000 after buying an additional 403 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Baker Hughes by 7.2% during the 1st quarter. Apollon Wealth Management LLC now owns 28,999 shares of the company’s stock valued at $1,275,000 after acquiring an additional 1,941 shares during the period. Hedge funds and other 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.