Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00

Baker Hughes (NASDAQ:BKR) had its target price raised by Barclays from $46.00 to $52.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Baker Hughes Trading Up 1.3 %

BKR opened at $40.32 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $40.85 and its two-hundred day moving average is $36.95. The company has a market capitalization of $39.90 billion, a P/E ratio of 18.08, a PEG ratio of 0.72 and a beta of 1.40. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Continuum Advisory LLC grew its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the period. Alta Advisers Ltd purchased a new position in shares of Baker Hughes during the 2nd quarter valued at about $42,000. Finally, Headlands Technologies LLC acquired a new position in shares of Baker Hughes in the 2nd quarter valued at about $48,000. 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.