Baker Hughes (NASDAQ:BKR) PT Raised to $42.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its price target lifted by UBS Group from $40.00 to $42.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on BKR. The Goldman Sachs Group boosted their target price on Baker Hughes from $39.00 to $43.00 and gave the stock a buy rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a buy rating in a research note on Monday, July 29th. Susquehanna boosted their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a positive rating in a research note on Monday, July 29th. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a buy rating for the company in a research note on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on Baker Hughes from $39.00 to $43.00 and gave the stock an outperform rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $43.38.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $34.62 on Tuesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company’s 50 day simple moving average is $34.89 and its 200 day simple moving average is $32.90.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, research analysts predict that Baker Hughes will post 2.2 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.43%. Baker Hughes’s payout ratio is 46.93%.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Large investors have recently modified their holdings of the stock. Quarry LP grew its stake in shares of Baker Hughes by 81.1% in the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Baker Hughes by 39.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,227 shares of the company’s stock valued at $360,000 after acquiring an additional 2,898 shares during the period. Creative Planning increased its holdings in shares of Baker Hughes by 36.5% during the second quarter. Creative Planning now owns 61,976 shares of the company’s stock valued at $2,180,000 after acquiring an additional 16,582 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Baker Hughes during the second quarter worth approximately $707,000. Finally, Legal & General Group Plc raised its position in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the period. 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.