Baker Hughes Company (NASDAQ:BKR) Receives $52.09 Consensus Target Price from Analysts

Baker Hughes Company (NASDAQ:BKR) has received a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $52.5652.

Several research firms recently weighed in on BKR. Capital One Financial lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Barclays boosted their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group set a $58.00 target price on shares of Baker Hughes in a report on Wednesday, July 30th. Zephirin Group boosted their target price on shares of Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Finally, TD Cowen boosted their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 24th.

Baker Hughes Stock Performance

BKR stock opened at $45.04 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The business has a 50-day moving average price of $45.93 and a 200 day moving average price of $41.31. The company has a market capitalization of $44.40 billion, a P/E ratio of 14.72, a PEG ratio of 2.05 and a beta of 0.99. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $5.09 billion during the quarter. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. As a group, equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.0%. Baker Hughes’s payout ratio is currently 30.07%.

Insiders Place Their Bets

In other news, CAO Rebecca L. Charlton sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares in the company, valued at $2,026,000. The trade was a 38.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 553,068 shares of company stock worth $24,712,651. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently modified their holdings of the business. CHICAGO TRUST Co NA purchased a new stake in shares of Baker Hughes during the third quarter worth about $369,000. Sound Income Strategies LLC purchased a new stake in shares of Baker Hughes during the third quarter worth about $4,352,000. Flputnam Investment Management Co. boosted its position in Baker Hughes by 0.4% in the third quarter. Flputnam Investment Management Co. now owns 132,074 shares of the company’s stock valued at $6,435,000 after buying an additional 528 shares during the last quarter. Viking Fund Management LLC boosted its position in Baker Hughes by 9.1% in the third quarter. Viking Fund Management LLC now owns 144,000 shares of the company’s stock valued at $7,016,000 after buying an additional 12,000 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in Baker Hughes in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.