Baker Hughes (NASDAQ:BKR) PT Raised to $48.00 at Susquehanna

Baker Hughes (NASDAQ:BKR) had its price objective lifted by Susquehanna from $46.00 to $48.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a positive rating on the stock.

Several other equities research analysts have also commented on BKR. Jefferies Financial Group boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Citigroup lowered their price objective on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Piper Sandler reduced their target price on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $36.78 on Thursday. The firm has a market cap of $36.71 billion, a PE ratio of 20.55, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a twelve month low of $28.32 and a twelve month 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. The business has a 50-day moving average price of $35.61 and a 200 day moving average price of $34.35.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Sell-side analysts predict that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.28%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company’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 transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised 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 period. 180 Wealth Advisors LLC raised its stake in shares of Baker Hughes by 19.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock valued at $740,000 after acquiring an additional 3,671 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $5,611,000. Occidental Asset Management LLC purchased a new position in shares of Baker Hughes during the 1st quarter worth approximately $1,861,000. Finally, Diversified Trust Co increased its holdings in Baker Hughes by 98.7% in the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after purchasing an additional 24,850 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.