Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00

Baker Hughes (NASDAQ:BKR) had its target price upped by Evercore ISI from $46.00 to $52.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

BKR has been the subject of several other reports. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group dropped their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Stock Up 0.5 %

NASDAQ:BKR opened at $46.54 on Wednesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $47.47. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.79 and a beta of 1.39. The stock has a 50-day moving average price of $42.67 and a two-hundred day moving average price of $38.25.

Baker Hughes (NASDAQ:BKR) last posted its 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 firm had revenue of $6.91 billion during 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 company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently made changes to their positions in BKR. Geode Capital Management LLC grew its position in Baker Hughes by 0.5% during 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 in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Baker Hughes by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares in the last quarter. Institutional investors and hedge funds 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.