Baker Hughes (NASDAQ:BKR) Price Target Raised to $43.00

Baker Hughes (NASDAQ:BKR) had its price target hoisted by Morgan Stanley from $40.00 to $43.00 in a research note issued to investors on Tuesday.

Several other research firms have also commented on BKR. Barclays decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a research note on Friday, January 26th. Royal Bank of Canada reiterated an outperform rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research note on Friday, January 26th. Finally, Susquehanna reiterated a positive rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $40.94.

Baker Hughes Trading Down 1.4 %

BKR opened at $32.84 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The firm has a market capitalization of $32.87 billion, a PE ratio of 18.35, a P/E/G ratio of 0.62 and a beta of 1.42. The company’s 50-day moving average is $32.05 and its 200 day moving average is $32.54.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. As a group, research analysts predict that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling

In related 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 value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Baker Hughes by 281.2% in the 1st quarter. UMB Bank n.a. now owns 1,582 shares of the company’s stock valued at $53,000 after purchasing an additional 1,167 shares during the period. ZWJ Investment Counsel Inc. bought a new position in Baker Hughes in the 1st quarter valued at $397,000. Mesirow Financial Investment Management Inc. bought a new position in Baker Hughes in the 1st quarter valued at $377,000. Checchi Capital Advisers LLC boosted its holdings in Baker Hughes by 6.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock valued at $273,000 after purchasing an additional 490 shares during the period. Finally, Triumph Capital Management raised its position in shares of Baker Hughes by 26.4% during the 1st quarter. Triumph Capital Management now owns 7,936 shares of the company’s stock valued at $265,000 after buying an additional 1,660 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

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.