Baker Hughes (NASDAQ:BKR) PT Raised to $46.00 at Barclays

Baker Hughes (NASDAQ:BKR) had its target price raised by analysts at Barclays from $41.00 to $46.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 22.60% from the company’s previous close.

Several other equities analysts have also recently commented on the company. 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 research note on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Stock Up 2.0 %

Shares of NASDAQ:BKR opened at $37.52 on Thursday. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a 50 day moving average of $35.64 and a two-hundred day moving average of $34.36. Baker Hughes has a 52-week low of $28.32 and a 52-week 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.

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, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Pinnacle Associates Ltd. lifted its stake in shares of Baker Hughes by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 174,889 shares of the company’s stock worth $5,978,000 after acquiring an additional 5,696 shares during the period. First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares during the period. Adams Natural Resources Fund Inc. boosted its stake in Baker Hughes by 34.5% during the 3rd quarter. Adams Natural Resources Fund Inc. now owns 398,800 shares of the company’s stock valued at $14,417,000 after purchasing an additional 102,400 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Baker Hughes during the 3rd quarter valued at $8,311,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Baker Hughes by 110.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,601 shares of the company’s stock worth $456,000 after buying an additional 6,601 shares in the last quarter. 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.