Baker Hughes (NASDAQ:BKR) Price Target Raised to $48.00 at Bank of America

Baker Hughes (NASDAQ:BKR) had its price objective boosted by Bank of America from $42.00 to $48.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on BKR. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Stifel Nicolaus boosted their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets increased their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Trading Down 0.4 %

Shares of NASDAQ BKR traded down $0.16 during mid-day trading on Wednesday, hitting $39.88. The stock had a trading volume of 1,211,085 shares, compared to its average volume of 7,099,076. The business has a 50 day moving average price of $40.76 and a two-hundred day moving average price of $36.87. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a market cap of $39.46 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. National Pension Service increased its holdings in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Hixon Zuercher LLC purchased a new position in Baker Hughes in the third quarter valued at $1,980,000. Banque Cantonale Vaudoise raised its position in shares of Baker Hughes by 76.1% in the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock worth $4,434,000 after acquiring an additional 53,006 shares during the period. AQR Capital Management LLC boosted its stake in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after acquiring an additional 455,307 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Baker Hughes by 90.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock worth $16,183,000 after acquiring an additional 212,520 shares in the last quarter. Hedge funds and other 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.