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

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by Piper Sandler from $53.00 to $55.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Stifel Nicolaus increased their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Baker Hughes Trading Up 2.6 %

NASDAQ:BKR opened at $47.40 on Monday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.60. The firm has a 50-day moving average price of $43.03 and a two-hundred day moving average price of $39.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $46.90 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS 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%. On average, equities analysts expect that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is presently 28.19%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service lifted its stake in Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Burney Co. raised its holdings in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new stake in Baker Hughes in the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP boosted its stake in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares in the last quarter. Finally, Czech National Bank grew its position in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after acquiring an additional 12,178 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.