Baker Hughes (NASDAQ:BKR) PT Raised to $43.00

Baker Hughes (NASDAQ:BKR) had its price target raised by equities research analysts at Morgan Stanley from $40.00 to $43.00 in a research note issued on Tuesday. Morgan Stanley’s price objective suggests a potential upside of 31.62% from the stock’s previous close.

BKR has been the topic of a number of other reports. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Barclays decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Finally, 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 report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Trading Down 1.0 %

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

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

Insider Activity at Baker Hughes

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at about $704,000. Avitas Wealth Management LLC raised its stake in shares of Baker Hughes by 48.5% in the 1st quarter. Avitas Wealth Management LLC now owns 11,012 shares of the company’s stock valued at $369,000 after purchasing an additional 3,599 shares during the period. Spire Wealth Management raised its stake in shares of Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Baker Hughes by 2.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,734 shares of the company’s stock valued at $1,197,000 after purchasing an additional 993 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Baker Hughes by 857.0% in the 1st quarter. Venturi Wealth Management LLC now owns 2,517 shares of the company’s stock valued at $84,000 after purchasing an additional 2,254 shares during the period. Institutional investors and hedge funds 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.