Baker Hughes’ (BKR) Buy Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a report published on Tuesday,Benzinga reports. They currently have a $57.00 target price on the stock.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays upped their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Susquehanna lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Down 0.6 %

Shares of Baker Hughes stock opened at $47.11 on Tuesday. Baker Hughes has a 1-year low of $28.63 and a 1-year high of $49.40. The company has a market capitalization of $46.62 billion, a PE ratio of 15.81, a P/E/G ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business has a 50-day moving average of $43.49 and a 200-day moving average of $39.62.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts forecast that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.95%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in the company. Dynasty Wealth Management LLC raised its stake in shares of Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after buying an additional 207 shares in the last quarter. Larson Financial Group LLC raised its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after acquiring an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its holdings in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after acquiring an additional 267 shares during the last quarter. Cromwell Holdings LLC boosted its position in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after purchasing an additional 269 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its stake in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.