Baker Hughes (NASDAQ:BKR) Given New $54.00 Price Target at Barclays

Baker Hughes (NASDAQ:BKR) had its price objective decreased by stock analysts at Barclays from $55.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 24.57% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BKR. Susquehanna increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. TD Cowen reduced their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.27 during mid-day trading on Monday, reaching $43.35. The stock had a trading volume of 757,129 shares, compared to its average volume of 6,581,089. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The stock has a 50-day simple moving average of $44.81 and a two-hundred day simple moving average of $41.79. 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 stock has a market capitalization of $42.92 billion, a PE ratio of 14.57, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated 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 approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BKR. Townsquare Capital LLC raised its position in Baker Hughes by 41.0% during the 3rd quarter. Townsquare Capital LLC now owns 21,551 shares of the company’s stock worth $779,000 after buying an additional 6,272 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Baker Hughes by 4.6% in the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 401 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Baker Hughes in the 3rd quarter valued at about $1,004,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Baker Hughes during the third quarter worth about $416,000. 92.06% of the stock is owned by institutional investors and hedge funds.

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.