Stifel Nicolaus Raises Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by Stifel Nicolaus from $45.00 to $48.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on BKR. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. UBS Group reduced their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Susquehanna upped their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.76.

Baker Hughes Price Performance

Shares of BKR opened at $43.61 on Monday. The firm’s 50-day simple moving average is $39.23 and its two-hundred day simple moving average is $35.92. 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 cap of $43.15 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. 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 (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 37.67%.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its position in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares during the period. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes during the first quarter worth about $34,000. Finally, Continuum Advisory LLC grew its position in shares of 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 purchasing an additional 796 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.