Baker Hughes (NASDAQ:BKR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $41.13.

BKR has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Susquehanna reiterated a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Finally, UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter valued at approximately $551,555,000. Price T Rowe Associates Inc. MD lifted its position in shares of Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares in the last quarter. Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes during the 1st quarter valued at about $117,083,000. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 846.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after buying an additional 2,127,675 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after buying an additional 1,822,487 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR opened at $32.14 on Thursday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $37.58. The company has a market capitalization of $32.08 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.55 and a beta of 1.43. The firm has a 50-day simple moving average of $32.40 and a 200-day simple moving average of $31.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Baker Hughes will post 2.09 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

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.