Baker Hughes (NASDAQ:BKR) Price Target Raised to $36.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its price objective lifted by UBS Group from $35.00 to $36.00 in a research note issued to investors on Tuesday.

A number of other research firms also recently issued reports on BKR. The Goldman Sachs Group lifted their price target on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Barclays cut their price target on Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a research note on Friday, January 26th. Citigroup cut their price target on Baker Hughes from $42.00 to $41.00 and set a buy rating for the company in a research note on Friday, January 26th. Morgan Stanley boosted their target price on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Finally, Royal Bank of Canada restated an outperform rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of Moderate Buy and an average price target of $40.94.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $32.84 on Tuesday. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The firm has a market capitalization of $32.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42. The business has a 50-day simple moving average of $32.05 and a 200 day simple moving average of $32.54. 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 released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, research analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY increased its holdings in shares of Baker Hughes by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after purchasing an additional 303 shares during the period. Blue Trust Inc. increased its holdings in shares of Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares during the period. Rational Advisors LLC increased its holdings in shares of Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Baker Hughes by 6.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after purchasing an additional 398 shares during the period. Finally, Huntington National Bank increased its holdings in shares of Baker Hughes by 8.2% in the third quarter. Huntington National Bank now owns 5,501 shares of the company’s stock worth $194,000 after purchasing an additional 416 shares during the period. Institutional investors 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.