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

Baker Hughes (NASDAQ:BKR) had its price target boosted by The Goldman Sachs Group from $51.00 to $52.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler assumed coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 target price for the company. Morgan Stanley increased their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Three research 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 company presently has an average rating of “Moderate Buy” and an average target price of $48.06.

Baker Hughes Stock Performance

Shares of BKR opened at $45.55 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 1 year low of $28.32 and a 1 year high of $47.47. The stock has a market capitalization of $45.07 billion, a PE ratio of 20.43, a PEG ratio of 0.88 and a beta of 1.39. The stock has a 50-day simple moving average of $43.01 and a 200-day simple moving average of $38.74.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake 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 valued at $867,514,000 after purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Baker Hughes by 1.5% in the third 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 during the last quarter. Legal & General Group Plc raised its stake in Baker Hughes by 8.6% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Baker Hughes by 0.3% during the third 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 during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.