Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Barclays Analyst Says

Baker Hughes (NASDAQ:BKR) had its target price raised by Barclays from $46.00 to $52.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on BKR. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Susquehanna increased their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Citigroup upped their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Stock Up 1.3 %

BKR opened at $40.32 on Wednesday. The company has a fifty day moving average of $40.85 and a two-hundred day moving average of $36.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly 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. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 2.08%. Baker Hughes’s payout ratio is 37.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment lifted its position in Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC boosted its stake in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Finally, Alta Advisers Ltd acquired a new stake in shares of Baker Hughes during the second quarter valued at about $42,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.