Baker Hughes (NASDAQ:BKR) Given New $55.00 Price Target at Barclays

Baker Hughes (NASDAQ:BKR) had its target price hoisted by investment analysts at Barclays from $51.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 16.03% from the stock’s current price.

BKR has been the subject of several other reports. Piper Sandler lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets lifted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price objective on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.18.

Baker Hughes Stock Up 2.6 %

Shares of NASDAQ:BKR opened at $47.40 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $43.03 and its 200 day moving average is $39.12. The stock has a market cap of $46.90 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.60.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts predict 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 business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently bought and sold shares of BKR. Northwestern Mutual Wealth Management Co. raised its stake in Baker Hughes by 39.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,227 shares of the company’s stock worth $360,000 after acquiring an additional 2,898 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Baker Hughes during the 2nd quarter worth approximately $1,505,000. Park Avenue Securities LLC lifted its stake in Baker Hughes by 6.0% in the 3rd quarter. Park Avenue Securities LLC now owns 26,703 shares of the company’s stock valued at $965,000 after purchasing an additional 1,501 shares during the last quarter. Czech National Bank grew its stake in shares of Baker Hughes by 6.4% during the third quarter. Czech National Bank now owns 202,371 shares of the company’s stock worth $7,316,000 after buying an additional 12,192 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Baker Hughes by 42.9% during the third quarter. GAMMA Investing LLC now owns 7,288 shares of the company’s stock worth $263,000 after buying an additional 2,187 shares in the last quarter. 92.06% of the stock is currently 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.