Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Capital One Financial Analyst Says

Baker Hughes (NASDAQ:BKR) had its price objective upped by analysts at Capital One Financial from $60.00 to $66.00 in a report released on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. Capital One Financial‘s price objective indicates a potential upside of 5.05% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. TD Cowen raised their target price on shares of Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Barclays raised their target price on shares of Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Piper Sandler raised their target price on shares of Baker Hughes from $52.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Susquehanna raised their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Finally, Stifel Nicolaus raised their target price on shares of Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Twenty research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Baker Hughes Stock Performance

Shares of BKR stock opened at $62.83 on Friday. The stock has a market cap of $62.09 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 1.00. The company has a fifty day moving average price of $60.78 and a two-hundred day moving average price of $52.85. Baker Hughes has a one year low of $34.56 and a one year high of $67.00.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. As a group, equities analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the transaction, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $57.29, for a total transaction of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 590,251 shares of company stock valued at $35,311,023 in the last three months. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC increased its position in Baker Hughes by 2.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company’s stock worth $86,230,000 after acquiring an additional 37,473 shares during the period. Rockefeller Capital Management L.P. increased its position in Baker Hughes by 60.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 83,059 shares of the company’s stock worth $3,783,000 after acquiring an additional 31,161 shares during the period. DUTCH ASSET Corp bought a new position in Baker Hughes during the fourth quarter worth about $1,049,000. Larry Mathis Financial Planning LLC bought a new position in Baker Hughes during the fourth quarter worth about $262,000. Finally, Corient Private Wealth LLC increased its position in Baker Hughes by 10.2% during the fourth quarter. Corient Private Wealth LLC now owns 97,388 shares of the company’s stock worth $4,439,000 after acquiring an additional 8,989 shares during the period. 92.06% of the stock is owned by institutional investors.

About Baker Hughes

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.