Baker Hughes (NYSE: BKR – Get Rating) had its price objective increased by Barclays from $ 40.00 to $ 47.00 in a research report issued on Wednesday, The Fly reports. Barclays’s target price indicates a potential upside of 30.27% from the company previous close.
Several other research firms have also commented on BKR. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $ 28.00 to $ 43.00 in a report on Thursday, March 31st. HSBC raised shares of Baker Hughes from a “hold” rating to a “buy” rating and set a $ 38.30 target price on the stock in a report on Tuesday, April 26th. The Goldman Sachs Group lowered shares of Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $ 41.00 target price on the stock. in a report on Tuesday, March 22nd. Royal Bank of Canada reduced their target price on shares of Baker Hughes from $ 43.00 to $ 41.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. Finally, Stifel Nicolaus increased their target price on shares of Baker Hughes from $ 34.00 to $ 41.00 in a report on Friday, April 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $ 37.61.
Shares of NYSE: BKR opened at $ 36.08 on Wednesday. The company fifty day moving average price is $ 34.85 and its 200-day moving average price is $ 30.66. The firm has a market capitalization of $ 37.07 billion, a price-to-earnings ratio of 109.34 and a beta of 1.51. Baker Hughes has a one year low of $ 19.23 and a one year high of $ 39.78. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.61 and a quick ratio of 1.15.
Baker Hughes (NYSE: BKR – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The company reported $ 0.15 EPS for the quarter, missing analysts’ consensus estimates of $ 0.19 by ($ 0.04). The company had revenue of $ 4.84 billion during the quarter, compared to the estimate consensus of $ 5.01 billion. Baker Hughes had a return on equity of 3.51% and a net margin of 1.49%. Baker Hughes’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $ 0.12 EPS. As a group, equities research analysts expect that Baker Hughes will post 1.17 EPS for the current year.
In other news, Director William G. Beattie sold 5,507 shares of the firm’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $ 35.69, for a total value of $ 196,544.83. Following the completion of the sale, the director now directly owns 12,743 shares of the company stock, valued at approximately $ 454,797.67. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 103,000 shares of Baker Hughes stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $ 37.39, for a total transaction of $ 3,851,170.00. Following the transaction, the chief executive officer now directly owns 472,759 shares of the company stock, valued at $ 17,676,459.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,243,191 shares of company stock valued at $ 2,489,138,781. Corporate insiders own 0.29% of the company stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in Baker Hughes by 5.4% during the 4th quarter. State Street Corp now owns 61,484,230 shares of the company stock valued at $ 1,479,311,000 after acquiring an additional 3,157,362 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Baker Hughes by 25.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,502 shares of the company stock valued at $ 1,359,000 after acquiring an additional 11,376 shares during the period. Benjamin Edwards Inc. lifted its position in Baker Hughes by 180.7% during the 4th quarter. Benjamin Edwards Inc. now owns 1,075 shares of the company stock valued at $ 26,000 after acquiring an additional 692 shares during the period. HighTower Advisors LLC lifted its position in Baker Hughes by 7.4% during the 4th quarter. HighTower Advisors LLC now owns 203,636 shares of the company stock valued at $ 4,896,000 after acquiring an additional 14,060 shares during the period. Finally, the Arizona State Retirement System lifted its position in Baker Hughes by 9.3% during the 4th quarter. Arizona State Retirement System now owns 225,567 shares of the company stock valued at $ 5,427,000 after acquiring an additional 19,256 shares during the period. 92.83% of the stock is owned by institutional investors.
Baker Hughes Company Profile: (Get Rating)
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.
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