Wells Fargo & Company Boosts Baker Hughes (NASDAQ:BKR) Price Target to $54.00

Baker Hughes (NASDAQ:BKR) had its target price upped by equities researchers at Wells Fargo & Company from $49.00 to $54.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 12.59% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America lifted their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Benchmark reiterated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, BMO Capital Markets increased their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Two 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.18.

Baker Hughes Price Performance

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

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 anticipate that Baker Hughes will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Trading of Baker Hughes

Hedge funds and other institutional investors have recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter valued at $30,000. True Wealth Design LLC lifted 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 valued at $31,000 after purchasing an additional 829 shares in the last quarter. Continuum Advisory LLC increased its stake in Baker Hughes by 442.2% in 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. Finally, Kestra Investment Management LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth about $45,000. 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.