Susquehanna Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price target upped by investment analysts at Susquehanna from $65.00 to $70.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 16.10% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Zephirin Group boosted their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Thursday, January 15th. Johnson Rice assumed coverage on Baker Hughes in a research note on Wednesday, February 25th. They set a “buy” rating and a $68.00 price target on the stock. Finally, Capital One Financial boosted their price target on Baker Hughes from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Twenty investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.39.

Baker Hughes Price Performance

NASDAQ BKR opened at $60.30 on Tuesday. Baker Hughes has a twelve month low of $34.06 and a twelve month high of $67.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $59.59 billion, a PE ratio of 23.19, a P/E/G ratio of 1.65 and a beta of 0.90. The stock has a 50-day simple moving average of $60.29 and a 200 day simple moving average of $52.47.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.09 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Insider Buying and Selling

In other news, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares in the company, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after purchasing an additional 598,159 shares during the period. State Street Corp grew its stake in shares of Baker Hughes by 1.6% in the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after purchasing an additional 937,614 shares during the period. Cardano Risk Management B.V. grew its stake in shares of Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the period. Capital World Investors grew its position in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after acquiring an additional 3,153,709 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock worth $1,189,194,000 after acquiring an additional 204,534 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.