Baker Hughes’ (BKR) “Buy” Rating Reaffirmed at Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They currently have a $57.00 price objective on the stock. Benchmark’s price target suggests a potential upside of 22.82% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Down 1.5 %

Shares of NASDAQ:BKR opened at $46.41 on Tuesday. The business’s 50 day moving average is $43.56 and its 200 day moving average is $39.68. The stock has a market cap of $45.92 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (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%. Sell-side analysts predict that Baker Hughes will post 2.57 EPS for the current year.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’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 sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Baker Hughes in the 4th quarter valued at about $829,092,000. Raymond James Financial Inc. acquired a new position in Baker Hughes in the fourth quarter valued at approximately $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the period. Congress Asset Management Co. acquired a new position in Baker Hughes in the fourth quarter valued at approximately $107,155,000. Finally, Yaupon Capital Management LP purchased a new stake in Baker Hughes in the 3rd quarter worth approximately $47,296,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.