Baker Hughes (NASDAQ:BKR) Receives $51.06 Consensus Target Price from Brokerages

Shares of Baker Hughes (NASDAQ:BKR) have been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $51.06.

A number of equities research analysts have recently commented on BKR shares. TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Evercore ISI boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th.

Baker Hughes Trading Down 2.2 %

NASDAQ BKR opened at $43.60 on Tuesday. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.00 and a beta of 1.39. Baker Hughes has a one year low of $29.30 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business’s fifty day moving average is $44.68 and its 200-day moving average is $40.63.

Baker Hughes (NASDAQ:BKR) last released its 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%. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.11%. Baker Hughes’s payout ratio is presently 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction 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 approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dynasty Wealth Management LLC grew its holdings in shares of Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC grew its holdings in shares of Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after purchasing an additional 267 shares in the last quarter. Cromwell Holdings LLC lifted its position in Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its position in Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after buying an additional 273 shares during the last quarter. Hedge funds and other 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.