Baker Hughes (NASDAQ:BKR) PT Raised to $34.00 at Piper Sandler

Baker Hughes (NASDAQ:BKRGet Rating) had its price objective boosted by equities research analysts at Piper Sandler from $30.00 to $34.00 in a report released on Friday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 16.72% from the company’s previous close.

Several other brokerages also recently issued reports on BKR. Morgan Stanley upped their target price on shares of Baker Hughes from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 20th. Barclays dropped their target price on shares of Baker Hughes to $38.00 in a research note on Thursday, October 20th. Bank of America upped their target price on shares of Baker Hughes from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, October 20th. Susquehanna decreased their price objective on shares of Baker Hughes from $39.00 to $35.00 in a report on Thursday, July 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Baker Hughes from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Baker Hughes Trading Down 2.3 %

NASDAQ:BKR opened at $29.13 on Friday. Baker Hughes has a one year low of $20.42 and a one year high of $39.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.51 and a quick ratio of 1.08. The company’s 50-day simple moving average is $25.53 and its 200 day simple moving average is $27.94. The firm has a market capitalization of $29.38 billion, a P/E ratio of -63.33 and a beta of 1.52.

Baker Hughes (NASDAQ:BKRGet Rating) last issued its earnings results on Wednesday, October 19th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.43 billion. Baker Hughes had a negative net margin of 2.36% and a positive return on equity of 4.77%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, analysts forecast that Baker Hughes will post 0.86 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

In other news, EVP Rami Qasem sold 72,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at $1,015,042.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Rami Qasem sold 72,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $31.21, for a total value of $2,247,120.00. Following the completion of the sale, the executive vice president now directly owns 32,523 shares of the company’s stock, valued at $1,015,042.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Neil Saunders sold 118,492 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $30.64, for a total transaction of $3,630,594.88. Following the completion of the sale, the executive vice president now directly owns 54,417 shares of the company’s stock, valued at $1,667,336.88. The disclosure for this sale can be found here. Insiders sold a total of 275,492 shares of company stock valued at $8,532,265 over the last three months. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently modified their holdings of the stock. SeaCrest Wealth Management LLC bought a new position in shares of Baker Hughes during the second quarter worth $27,000. Alpha Paradigm Partners LLC bought a new position in shares of Baker Hughes during the second quarter worth $29,000. Hallmark Capital Management Inc. bought a new position in shares of Baker Hughes during the second quarter worth $31,000. DB Wealth Management Group LLC bought a new position in shares of Baker Hughes during the first quarter worth $34,000. Finally, Evoke Wealth LLC boosted its position in shares of Baker Hughes by 276.1% during the second quarter. Evoke Wealth LLC now owns 1,557 shares of the company’s stock worth $45,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors own 96.62% of the company’s stock.

About Baker Hughes

(Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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