The Goldman Sachs Group Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price objective boosted by investment analysts at The Goldman Sachs Group from $51.00 to $52.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 13.51% from the company’s current price.

BKR has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. TD Cowen cut their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.06.

Baker Hughes Stock Performance

Shares of BKR stock opened at $45.81 on Thursday. The company has a market cap of $45.33 billion, a P/E ratio of 20.54, a PEG ratio of 0.90 and a beta of 1.39. The firm has a fifty day moving average price of $42.91 and a 200 day moving average price of $38.61. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $47.47.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Sell-side analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at about $30,000. True Wealth Design LLC raised its position in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Continuum Advisory LLC lifted its stake in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after buying an additional 796 shares in the last quarter. Quarry LP grew its holdings in Baker Hughes by 81.1% during 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 last quarter. Finally, Eastern Bank increased its position in Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after buying an additional 1,490 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.