Baker Hughes (NASDAQ:BKR) Receives Buy Rating from Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $57.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 19.87% from the stock’s current price.

A number of other analysts have also commented on BKR. 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 research note on Monday, February 3rd. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus upped their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Stock Up 0.8 %

Shares of NASDAQ BKR traded up $0.37 during mid-day trading on Tuesday, reaching $47.55. 1,430,160 shares of the company were exchanged, compared to its average volume of 7,876,831. Baker Hughes has a 1 year low of $28.63 and a 1 year high of $49.40. 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 stock has a market cap of $47.05 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.07 and a beta of 1.39. The firm has a 50-day moving average of $43.49 and a 200 day moving average of $39.62.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, 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 SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of BKR. Dynasty Wealth Management LLC increased its position in Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after buying an additional 207 shares during the period. Larson Financial Group LLC boosted its stake in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Alpine Woods Capital Investors LLC increased its stake in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after purchasing an additional 267 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares during the period. Finally, Bridges Investment Management Inc. grew its holdings in shares of Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after buying an additional 273 shares during the last quarter. 92.06% of the stock is 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.