Baker Hughes (NASDAQ:BKR) PT Raised to $38.00

Baker Hughes (NASDAQ:BKR) had its target price upped by research analysts at The Goldman Sachs Group from $36.00 to $38.00 in a note issued to investors on Tuesday. The Goldman Sachs Group’s target price points to a potential upside of 16.31% from the company’s current price.

A number of other research analysts have also recently commented on BKR. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Barclays lowered their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Morgan Stanley boosted their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Finally, TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Down 1.0 %

Shares of NASDAQ:BKR opened at $32.67 on Tuesday. The stock has a 50 day moving average of $31.89 and a 200 day moving average of $32.55. The company has a market cap of $32.70 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.07 EPS for the current year.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds have recently bought and sold shares of BKR. Louisiana State Employees Retirement System bought a new position in shares of Baker Hughes during the 4th quarter worth $4,813,000. Nordea Investment Management AB grew its position in shares of Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after buying an additional 1,283,296 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after buying an additional 97,108 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Baker Hughes by 8.7% during the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after buying an additional 248,125 shares in the last quarter. Finally, DDD Partners LLC purchased a new stake in shares of Baker Hughes during the 4th quarter worth $11,054,000. Institutional investors own 92.06% of the company’s stock.

About Baker Hughes

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.