Brokerages Set Baker Hughes (NASDAQ:BKR) Price Target at $41.00

Baker Hughes (NASDAQ:BKR) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $40.87.

A number of equities research analysts recently commented on BKR shares. Barclays dropped their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. Citigroup decreased their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th.

Baker Hughes Trading Down 0.2 %

BKR stock opened at $34.25 on Friday. The company has a market cap of $34.28 billion, a P/E ratio of 17.93, a PEG ratio of 0.71 and a beta of 1.42. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $30.97 and a 200-day moving average of $32.71.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts expect that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes’s payout ratio is currently 43.98%.

Insider Activity at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. First Hawaiian Bank increased its holdings in shares of Baker Hughes by 6.5% during the first quarter. First Hawaiian Bank now owns 82,327 shares of the company’s stock worth $2,758,000 after purchasing an additional 5,012 shares during the period. CWM LLC grew its position in Baker Hughes by 21.9% during the first quarter. CWM LLC now owns 22,331 shares of the company’s stock worth $748,000 after buying an additional 4,018 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in Baker Hughes during the 4th quarter worth $227,000. PNC Financial Services Group Inc. raised its holdings in Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock valued at $3,690,000 after acquiring an additional 525 shares in the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Baker Hughes by 7.2% during the 4th quarter. Wahed Invest LLC now owns 17,298 shares of the company’s stock valued at $591,000 after acquiring an additional 1,155 shares during the period. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.