Baker Hughes (NASDAQ:BKR) Price Target Raised to $54.00

Baker Hughes (NASDAQ:BKR) had its price objective increased by stock analysts at Wells Fargo & Company from $49.00 to $54.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.62% from the stock’s current price.

Other analysts have also issued research reports about the stock. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada raised their target price on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.88.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.52 during trading hours on Monday, hitting $46.70. The company’s stock had a trading volume of 2,423,989 shares, compared to its average volume of 7,512,319. The business has a fifty day moving average of $43.03 and a 200-day moving average of $39.12. The stock has a market cap of $46.21 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities research analysts anticipate that Baker Hughes will post 2.55 EPS for the current year.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bridges Investment Management Inc. boosted its holdings in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares during the period. Graypoint LLC boosted its holdings in shares of Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares during the period. Key Financial Inc boosted its holdings in shares of Baker Hughes by 16.3% in the 4th quarter. Key Financial Inc now owns 2,676 shares of the company’s stock valued at $110,000 after buying an additional 376 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Baker Hughes by 1.8% in the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after buying an additional 380 shares during the period. 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.