Susquehanna Has Lowered Expectations for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price target dropped by analysts at Susquehanna from $55.00 to $48.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 28.34% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Barclays reduced their price objective on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, Bank of America raised their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $50.76.

Baker Hughes Trading Down 1.4 %

Shares of NASDAQ:BKR traded down $0.53 during trading on Monday, hitting $37.40. 1,373,654 shares of the company’s stock were exchanged, compared to its average volume of 6,867,631. The firm has a 50-day moving average price of $43.23 and a two-hundred day moving average price of $42.07. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The firm has a market cap of $37.03 billion, a P/E ratio of 12.55, a PEG ratio of 2.00 and a beta of 1.08. 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 earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds have recently modified their holdings of the stock. JFS Wealth Advisors LLC boosted its stake in Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Baker Hughes in the fourth quarter valued at about $30,000. Larson Financial Group LLC grew its stake in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares in the last quarter. Kestra Investment Management LLC bought a new position in Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management acquired a new stake in Baker Hughes in the 4th quarter worth about $47,000. 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.