Baker Hughes (NASDAQ:BKR) Price Target Raised to $50.00

Baker Hughes (NASDAQ:BKR) had its target price hoisted by Citigroup from $42.00 to $50.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on BKR. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Barclays lifted their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Morgan Stanley raised their price target on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Price Performance

Baker Hughes stock opened at $42.94 on Thursday. 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 has a one year low of $28.32 and a one year high of $44.49. The company has a market cap of $42.49 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The business has a fifty day moving average of $37.48 and a two-hundred day moving average of $35.21.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the period. M&T Bank Corp grew its position in shares of Baker Hughes by 7.2% during the third quarter. M&T Bank Corp now owns 48,075 shares of the company’s stock worth $1,738,000 after acquiring an additional 3,229 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the period. Hamilton Capital LLC bought a new stake in Baker Hughes in the 3rd quarter valued at about $247,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Baker Hughes by 15.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 438,616 shares of the company’s stock valued at $15,856,000 after purchasing an additional 57,973 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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.