Baker Hughes (NASDAQ:BKR) Price Target Raised to $46.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price target upped by Susquehanna from $40.00 to $46.00 in a report issued on Monday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other brokerages have also recently issued reports on BKR. Jefferies Financial Group boosted their price target on Baker Hughes from $45.00 to $46.00 and gave the company a buy rating in a research report on Friday, June 28th. The Goldman Sachs Group boosted their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Morgan Stanley boosted their target price on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Piper Sandler dropped their target price on Baker Hughes from $45.00 to $44.00 and set an overweight rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reiterated a buy rating and set a $40.00 target price on shares of Baker Hughes in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $43.00.

Baker Hughes Stock Up 1.3 %

BKR opened at $38.72 on Monday. The business’s 50-day simple moving average is $33.98 and its 200-day simple moving average is $32.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The stock has a market capitalization of $38.64 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.39 earnings per share. Analysts anticipate that Baker Hughes will post 2.15 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, August 6th. Baker Hughes’s payout ratio is currently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BKR. UMB Bank n.a. raised its position in shares of Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the period. Blue Trust Inc. raised its position in shares of Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after buying an additional 327 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Baker Hughes by 6.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after buying an additional 398 shares during the period. Guinness Atkinson Asset Management Inc raised its position in shares of Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after buying an additional 467 shares during the period. Finally, Aspire Private Capital LLC increased its holdings in Baker Hughes by 9.3% in the 4th quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after purchasing an additional 486 shares in 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.