Baker Hughes (NASDAQ:BKR) Receives $40.94 Consensus Target Price from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $40.94.

Several equities research analysts have issued reports on BKR shares. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th.

Baker Hughes Stock Down 0.0 %

NASDAQ BKR opened at $31.92 on Wednesday. The stock has a market cap of $31.95 billion, a PE ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. The business has a 50 day moving average price of $32.35 and a two-hundred day moving average price of $32.41. Baker Hughes has a fifty-two week low of $26.96 and a fifty-two week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

Insiders Place Their Bets

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes 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 owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction dated 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 owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated 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 owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BKR. Mediolanum International Funds Ltd bought a new position in Baker Hughes during the 1st quarter valued at $738,000. AA Financial Advisors LLC bought a new position in Baker Hughes during the first quarter valued at about $442,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Baker Hughes by 134.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock worth $8,002,000 after acquiring an additional 137,099 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Baker Hughes in the 1st quarter valued at about $515,000. Finally, Nikko Asset Management Americas Inc. boosted its position in shares of Baker Hughes by 53.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 38,747 shares of the company’s stock valued at $1,297,000 after purchasing an additional 13,501 shares in the last quarter. Institutional investors and hedge funds 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.