Baker Hughes (NASDAQ:BKR) PT Raised to $43.00 at Royal Bank of Canada

Baker Hughes (NASDAQ:BKR) had its price target boosted by investment analysts at Royal Bank of Canada from $39.00 to $43.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 13.85% from the company’s previous close.

BKR has been the topic of several other research reports. Stifel Nicolaus upped their price target on Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group increased their target price on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Wells Fargo & Company upped their price target on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group upped their price target on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, Bank of America cut their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Baker Hughes Trading Up 0.3 %

NASDAQ BKR traded up $0.12 on Monday, reaching $37.77. 1,113,606 shares of the company were exchanged, compared to its average volume of 7,516,427. The business’s fifty day moving average price is $33.64 and its 200 day moving average price is $32.25. The stock has a market capitalization of $37.69 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.98.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts forecast that Baker Hughes will post 2.11 earnings per share for the current year.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Norges Bank purchased a new stake in shares of Baker Hughes in the fourth quarter valued at $551,555,000. Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after purchasing an additional 1,395,083 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Baker Hughes by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after purchasing an additional 204,839 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the period. 92.06% of the stock is owned by hedge funds and other 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.