Baker Hughes (NASDAQ:BKR) Given New $70.00 Price Target at BMO Capital Markets

Baker Hughes (NASDAQ:BKR) had its target price upped by BMO Capital Markets from $65.00 to $70.00 in a research report report published on Tuesday,MarketScreener reports. They currently have an outperform rating on the stock.

Other analysts also recently issued reports about the company. iA Financial set a $60.00 target price on Baker Hughes in a report on Tuesday, January 27th. Susquehanna boosted their price objective on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, January 27th. Jefferies Financial Group increased their price objective on Baker Hughes from $59.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, January 31st. Barclays lifted their target price on shares of Baker Hughes from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Finally, Piper Sandler increased their price target 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. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.61.

Baker Hughes Stock Down 3.5%

BKR stock opened at $62.54 on Tuesday. The stock has a market cap of $61.80 billion, a P/E ratio of 24.05, a PEG ratio of 1.76 and a beta of 0.83. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. Baker Hughes has a twelve month low of $33.60 and a twelve month high of $67.00. The company’s 50 day moving average is $55.24 and its two-hundred day moving average is $50.00.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The company’s revenue for the quarter 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.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.5%. Baker Hughes’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,985 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $55.77, for a total transaction of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. The trade was a 14.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,001 shares of company stock valued at $2,322,692. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in BKR. Activest Wealth Management lifted its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after buying an additional 497 shares during the period. EFG International AG acquired a new stake in Baker Hughes in the fourth quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its position in shares of Baker Hughes by 344.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after purchasing an additional 337 shares during the period. Finally, Quarry LP purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.