Analysts Set Baker Hughes (NASDAQ:BKR) Price Target at $40.44

Shares of Baker Hughes (NASDAQ:BKR) have received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.00.

A number of equities research analysts have commented on BKR shares. Citigroup reduced their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. TD Cowen boosted their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Finally, Barclays dropped their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th.

Baker Hughes Stock Performance

NASDAQ BKR opened at $32.39 on Tuesday. The company has a market cap of $32.42 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The stock’s 50 day simple moving average is $30.17 and its 200-day simple moving average is $33.02. Baker Hughes has a 1-year low of $26.12 and a 1-year high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Baker Hughes will post 2.03 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is currently 43.98%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently bought and sold shares of BKR. Wahed Invest LLC lifted its holdings in Baker Hughes by 7.2% in the fourth quarter. Wahed Invest LLC now owns 17,298 shares of the company’s stock worth $591,000 after acquiring an additional 1,155 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Baker Hughes by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 507,379 shares of the company’s stock worth $17,342,000 after purchasing an additional 15,904 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Syon Capital LLC grew its position in Baker Hughes by 65.5% in the fourth quarter. Syon Capital LLC now owns 27,889 shares of the company’s stock worth $953,000 after buying an additional 11,040 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Baker Hughes in the fourth quarter worth approximately $333,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.

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.