Baker Hughes (NASDAQ:BKR) PT Raised to $46.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price target increased by equities researchers at Susquehanna from $40.00 to $46.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 20.29% from the stock’s previous close.

BKR has been the topic of several other research reports. UBS Group lifted their target price on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Piper Sandler cut their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. 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. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Baker Hughes Stock Down 0.6 %

Baker Hughes stock opened at $38.24 on Monday. 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 1-year low of $28.32 and a 1-year high of $38.67. The firm’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $32.34. The company has a market capitalization of $38.16 billion, a P/E ratio of 21.36, a P/E/G ratio of 0.64 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. Sell-side analysts forecast that Baker Hughes will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the sale, the executive vice president now 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 SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UMB Bank n.a. raised its stake in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after acquiring an additional 291 shares during the last quarter. Blue Trust Inc. raised its position in shares of Baker Hughes by 15.5% during the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after acquiring an additional 327 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Baker Hughes by 6.6% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after acquiring an additional 398 shares during the period. Guinness Atkinson Asset Management Inc increased its position in Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the period. Finally, Aspire Private Capital LLC lifted its position in Baker Hughes by 9.3% during the 4th quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after purchasing an additional 486 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.