Susquehanna Increases Baker Hughes (NASDAQ:BKR) Price Target to $55.00

Baker Hughes (NASDAQ:BKR) had its price target increased by equities research analysts at Susquehanna from $53.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 14.68% from the company’s current price.

Several other equities research analysts have also recently commented on BKR. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America raised their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup boosted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada upped their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday. Finally, Piper Sandler raised their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.18.

Baker Hughes Stock Up 1.2 %

Shares of NASDAQ BKR opened at $47.96 on Monday. The company’s 50 day moving average price is $43.11 and its 200-day moving average price is $39.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $48.04. The company has a market capitalization of $47.46 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

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

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC grew its stake in Baker Hughes by 34.7% in 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 buying an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of Baker Hughes in the fourth quarter worth $107,155,000. Yaupon Capital Management LP purchased a new position in shares of Baker Hughes in the third quarter valued at $47,296,000. Eagle Asset Management Inc. raised its stake in shares of Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Baker Hughes by 436.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after purchasing an additional 817,227 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other 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.