Baker Hughes (NASDAQ:BKR) Price Target Raised to $38.00 at The Goldman Sachs Group

Baker Hughes (NASDAQ:BKR) had its price target lifted by The Goldman Sachs Group from $36.00 to $38.00 in a research report sent to investors on Tuesday.

BKR has been the subject of several other research reports. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research report on Friday, January 26th. 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. TD Cowen increased their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Barclays reduced their target price on Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research note on Friday, January 26th. Finally, Morgan Stanley lifted their price target on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $41.00.

Baker Hughes Stock Performance

NASDAQ BKR opened at $33.00 on Tuesday. The company has a 50-day simple moving average of $31.82 and a two-hundred day simple moving average of $32.55. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.62 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last issued 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 company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. Baker Hughes’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, equities analysts forecast that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.55%. Baker Hughes’s dividend payout ratio is currently 43.98%.

Insider Buying and Selling

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business’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 sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Baker Hughes during the fourth quarter valued at approximately $551,555,000. Cardano Risk Management B.V. bought a new position in shares of Baker Hughes during the 1st quarter valued at $117,083,000. FMR LLC boosted its stake in shares of Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after buying an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after acquiring an additional 1,822,487 shares during the last quarter. Hedge funds and other 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.