Citigroup Lowers Baker Hughes (NASDAQ:BKR) Price Target to $53.00

Baker Hughes (NASDAQ:BKR) had its price objective reduced by equities researchers at Citigroup from $54.00 to $53.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 36.77% from the company’s current price.

A number of other analysts also recently weighed in on BKR. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Susquehanna boosted their target price 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. Evercore ISI boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.18.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $38.75 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a market cap of $38.37 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.00 and a beta of 1.08. The firm’s fifty day moving average is $43.65 and its two-hundred day moving average is $42.01. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s 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 sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently modified their holdings of the business. Capital Research Global Investors lifted its position in shares of Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock worth $1,135,744,000 after purchasing an additional 177,232 shares during the period. Geode Capital Management LLC lifted its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $829,092,000. FMR LLC lifted its position in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock valued at $473,880,000 after acquiring an additional 874,297 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.