Jefferies Financial Group Boosts Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its price target boosted by Jefferies Financial Group from $46.00 to $48.00 in a research report released on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on BKR. Susquehanna lifted their price target on Baker Hughes from $40.00 to $46.00 and gave the stock a positive rating in a report on Monday. TD Cowen lifted their price target on Baker Hughes from $46.00 to $50.00 and gave the stock a buy rating in a report on Monday. Wells Fargo & Company lifted 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. Benchmark reissued a buy rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a buy rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $43.00.

Baker Hughes Stock Performance

BKR opened at $38.72 on Monday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.64 and a beta of 1.41. The business has a 50 day moving average of $33.98 and a 200-day moving average of $32.39. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Baker Hughes will post 2.15 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.17%. Baker Hughes’s payout ratio is 46.93%.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of Baker Hughes stock in a transaction 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 transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at $551,555,000. Dimensional Fund Advisors LP boosted its holdings in shares of Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after acquiring an additional 1,395,083 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Baker Hughes by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after acquiring an additional 204,839 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

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.