Royal Bank of Canada Increases Baker Hughes (NASDAQ:BKR) Price Target to $53.00

Baker Hughes (NASDAQ:BKR) had its price objective lifted by stock analysts at Royal Bank of Canada from $49.00 to $53.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 10.51% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.18.

Baker Hughes Price Performance

BKR stock opened at $47.96 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company’s 50-day moving average is $43.11 and its 200-day moving average is $39.20. The stock has a market capitalization of $47.46 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $48.04.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities research analysts expect that Baker Hughes will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter worth $30,000. True Wealth Design LLC increased its holdings in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment raised its stake in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares during the last quarter. Hedge funds and other 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.