Jefferies Financial Group Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its target price raised by Jefferies Financial Group from $48.00 to $50.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently commented on the company. UBS Group cut their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus boosted their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Bank of America boosted their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, BMO Capital Markets boosted their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.12.

Baker Hughes Trading Up 2.6 %

Shares of BKR opened at $42.66 on Friday. The stock’s 50-day moving average is $41.61 and its two-hundred day moving average is $37.52. The stock has a market cap of $42.21 billion, a PE ratio of 19.13, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

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

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Baker Hughes by 41.1% in the 4th quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after buying an additional 2,998 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Baker Hughes by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock worth $42,580,000 after buying an additional 47,727 shares in the last quarter. Birmingham Capital Management Co. Inc. AL lifted its position in Baker Hughes by 18.5% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock worth $578,000 after purchasing an additional 2,500 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Baker Hughes in the third quarter worth approximately $139,000. Finally, Sanctuary Advisors LLC lifted its position in Baker Hughes by 92.0% in the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock worth $3,180,000 after purchasing an additional 42,148 shares during the period. 92.06% of the stock is owned by institutional investors.

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.