Baker Hughes (NASDAQ:BKR) Price Target Raised to $46.00 at Jefferies Financial Group

Baker Hughes (NASDAQ:BKR) had its target price lifted by Jefferies Financial Group from $45.00 to $46.00 in a research report sent to investors on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other brokerages have also weighed in on BKR. The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. UBS Group boosted their price target on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a buy rating and issued a $40.00 price objective on shares of Baker Hughes in a report on Wednesday, April 24th. Morgan Stanley upped their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Susquehanna reiterated a positive rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Baker Hughes has an average rating of Moderate Buy and an average target price of $41.27.

Baker Hughes Stock Performance

BKR opened at $35.17 on Friday. The firm’s fifty day simple moving average is $32.61 and its two-hundred day simple moving average is $32.04. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.58. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 0.59 and a beta of 1.43. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share 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 the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts anticipate that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity

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

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Norges Bank purchased a new stake in shares of Baker Hughes during the 4th quarter worth $551,555,000. Morgan Stanley grew its stake in shares of Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Baker Hughes by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after purchasing an additional 1,395,083 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Baker Hughes by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after buying an additional 204,839 shares during the last quarter. Hedge funds and other institutional investors 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.