Baker Hughes (NASDAQ:BKR) Upgraded by Argus to “Buy”

Baker Hughes (NASDAQ:BKR) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports.

Several other brokerages also recently issued reports on BKR. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Citigroup reduced their price objective on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Benchmark reaffirmed a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 target price on shares of Baker Hughes in a report on Thursday. Finally, Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Trading Up 2.0 %

NASDAQ:BKR opened at $37.52 on Friday. The stock has a fifty day simple moving average of $35.70 and a 200 day simple moving average of $34.39. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Baker Hughes by 8.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after buying an additional 1,829 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Baker Hughes by 98.7% in the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after buying an additional 24,850 shares during the period. Oliver Luxxe Assets LLC grew its position in Baker Hughes by 0.5% during the first quarter. Oliver Luxxe Assets LLC now owns 147,749 shares of the company’s stock worth $4,950,000 after buying an additional 712 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Baker Hughes during the first quarter valued at about $27,000. Finally, Bourgeon Capital Management LLC increased its stake in Baker Hughes by 1.1% during the first quarter. Bourgeon Capital Management LLC now owns 217,860 shares of the company’s stock valued at $7,298,000 after acquiring an additional 2,441 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.