UBS Group Raises Baker Hughes (NASDAQ:BKR) Price Target to $36.00

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by equities researchers at UBS Group from $35.00 to $36.00 in a report released on Tuesday. UBS Group’s price target points to a potential upside of 10.19% from the stock’s current price.

A number of other brokerages also recently issued reports on BKR. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Finally, Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes Stock Performance

Shares of BKR stock opened at $32.67 on Tuesday. The company’s 50-day moving average is $31.89 and its 200 day moving average is $32.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The company has a market capitalization 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 one year low of $26.81 and a one year high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results 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. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Sell-side analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were 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 approximately $508,132.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, 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 owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Baker Hughes in the fourth quarter valued at $551,555,000. Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes in the first quarter valued at $117,083,000. FMR LLC grew its holdings in shares of Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after purchasing an additional 2,316,638 shares in 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 valued at $84,025,000 after purchasing an additional 2,127,675 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. 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.