Baker Hughes (NASDAQ:BKR) PT Lowered to $44.00 at Piper Sandler

Baker Hughes (NASDAQ:BKR) had its target price reduced by equities research analysts at Piper Sandler from $45.00 to $44.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 21.21% from the stock’s current price.

BKR has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, June 28th. Benchmark restated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Morgan Stanley lifted their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, UBS Group upped their target price on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.93.

Baker Hughes Price Performance

Shares of BKR stock opened at $36.30 on Monday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.58. The stock has a market capitalization of $36.23 billion, a PE ratio of 20.28, a PEG ratio of 0.59 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. The stock’s fifty day moving average is $33.12 and its 200-day moving average is $32.08.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Baker Hughes will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BKR. Spire Wealth Management grew its holdings in shares of Baker Hughes by 256.7% during the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after buying an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $33,000. Montag A & Associates Inc. raised its holdings in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in shares of Baker Hughes in the first quarter worth $34,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.