Argus Increases Baker Hughes (NASDAQ:BKR) Price Target to $67.00

Baker Hughes (NASDAQ:BKR) had its price objective boosted by stock analysts at Argus from $55.00 to $67.00 in a report released on Tuesday,MarketScreener reports. Argus’ price target indicates a potential upside of 18.31% from the company’s previous close.

A number of other research analysts have also commented on the company. UBS Group raised their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen upped their price target on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday. Susquehanna increased their price objective on shares of Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday. Finally, Jefferies Financial Group boosted their target price on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $57.21.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $56.63 on Tuesday. The firm’s 50 day moving average is $48.96 and its two-hundred day moving average is $46.91. The firm has a market capitalization of $55.88 billion, a P/E ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89. 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 has a 52 week low of $33.60 and a 52 week high of $57.58.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Sunday, January 25th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.51% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up .3% on a year-over-year basis. Analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of BKR. Brandywine Global Investment Management LLC boosted its position in shares of Baker Hughes by 8.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Baker Hughes in the third quarter worth about $1,920,000. Webster Bank N. A. purchased a new position in shares of Baker Hughes in the third quarter worth approximately $3,434,000. Robeco Institutional Asset Management B.V. increased its position in shares of Baker Hughes by 23.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after acquiring an additional 88,536 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Baker Hughes by 0.6% during the second quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after acquiring an additional 8,994 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes News Summary

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Q4 results beat consensus — Baker Hughes reported stronger-than-expected Q4 results (EPS and revenue ahead of estimates), which analysts cited when raising forecasts; this underpins the recent analyst upgrades. Read More.
• Positive Sentiment: Argus raised its price target to $67 (largest upside noted), signaling stronger fundamental conviction and giving BKR notable upside potential vs. the current price. Read More.
• Positive Sentiment: BMO, TD Cowen and other firms lifted targets (BMO to $65, TD Cowen to $64), adding buy/outperform views that support demand into the shares.
• Positive Sentiment: Major banks raised ratings/targets — JPMorgan to $60 (overweight), Capital One to $59 (overweight) and UBS to $61 (neutral but higher target) — broad-based analyst support reduces near-term downside risk and can attract flows from model/quant funds. Read More. Read More.
• Positive Sentiment: Independent forecasters (Zephirin Group/AmericanBankingNews) are projecting strong price appreciation, which may fuel retail interest and momentum buying. Read More.
• Neutral Sentiment: Short-interest reports show anomalous values (0 shares / NaN change and 0.0 days-to-cover) for late January — appears to be data/reporting noise rather than a meaningful change in short positioning. (No clear short squeeze signal.)
• Neutral Sentiment: Supplementary coverage and the Q4 earnings call transcript provide color on outlook/margins but contain no single new catalyst beyond the earnings beat; see transcript and fair-value discussion for detail. Read More. Read More.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.