Baker Hughes (NASDAQ:BKR) Price Target Raised to $61.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its target price upped by UBS Group from $54.00 to $61.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Argus boosted their price target on shares of Baker Hughes from $55.00 to $67.00 in a research note on Tuesday. Capital One Financial lifted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday. Industrial Alliance Securities set a $60.00 price target on Baker Hughes in a research note on Tuesday. Jefferies Financial Group raised their price target on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday. Twenty-one analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $57.21.

Baker Hughes Stock Up 0.2%

Shares of BKR opened at $56.63 on Wednesday. The business’s 50 day moving average is $48.96 and its 200 day moving average is $46.91. 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 12-month low of $33.60 and a 12-month high of $57.58. The company has a market capitalization of $55.88 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89.

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

Institutional Investors Weigh In On Baker Hughes

Institutional investors have recently modified their holdings of the stock. U S Global Investors Inc. increased its position in shares of Baker Hughes by 142.9% during the 4th quarter. U S Global Investors Inc. now owns 8,500 shares of the company’s stock valued at $387,000 after purchasing an additional 5,000 shares during the last quarter. Wealth Science Advisors LLC purchased a new position in Baker Hughes during the fourth quarter worth $349,000. B. Metzler seel. Sohn & Co. AG increased its position in Baker Hughes by 6.9% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 209,390 shares of the company’s stock valued at $9,536,000 after acquiring an additional 13,485 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Baker Hughes by 1.8% in the fourth quarter. HB Wealth Management LLC now owns 45,859 shares of the company’s stock valued at $2,088,000 after acquiring an additional 808 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Baker Hughes by 1.4% in the 4th quarter. KLP Kapitalforvaltning AS now owns 413,518 shares of the company’s stock worth $18,832,000 after acquiring an additional 5,800 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Key Stories Impacting Baker Hughes

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.