JPMorgan Chase & Co. Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by JPMorgan Chase & Co. from $50.00 to $52.00 in a research note issued to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also commented on BKR. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Piper Sandler assumed coverage on Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price objective for the company. Stifel Nicolaus lifted their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

Baker Hughes Stock Up 2.6 %

Baker Hughes stock opened at $47.40 on Monday. The firm has a market cap of $46.90 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.89 and a beta of 1.39. The stock has a fifty day simple moving average of $43.03 and a two-hundred day simple moving average of $39.12. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $47.60. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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 analysts predict that Baker Hughes will post 2.55 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s payout ratio is presently 28.19%.

Insider Activity

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

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its stake in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. bought a new stake in Baker Hughes during the fourth quarter worth approximately $107,155,000. Yaupon Capital Management LP bought a new stake in Baker Hughes during the third quarter worth approximately $47,296,000. Eagle Asset Management Inc. increased its stake in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after acquiring an additional 817,227 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.