Baker Hughes (NASDAQ:BKR) Price Target Cut to $41.00

Baker Hughes (NASDAQ:BKR) had its price objective cut by Barclays from $42.00 to $41.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 11.17% from the stock’s previous close.

BKR has been the topic of a number of other research reports. BMO Capital Markets raised their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Piper Sandler decreased their price target on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Benchmark restated a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.59.

Baker Hughes Stock Up 0.4 %

BKR opened at $36.88 on Wednesday. The company has a market cap of $36.81 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a 50-day moving average price of $35.49 and a 200 day moving average price of $34.27. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts expect that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Baker Hughes in the first quarter worth $27,000. New Covenant Trust Company N.A. purchased a new stake in Baker Hughes during the 1st quarter worth about $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes in the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at about $48,000. Finally, Rise Advisors LLC boosted its stake in shares of Baker Hughes by 46.9% in the 1st quarter. Rise Advisors LLC now owns 1,667 shares of the company’s stock valued at $56,000 after buying an additional 532 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Company Profile

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.