Baker Hughes (NASDAQ:BKR) Price Target Raised to $43.00

Baker Hughes (NASDAQ:BKR) had its target price hoisted by analysts at Morgan Stanley from $40.00 to $43.00 in a research report issued to clients and investors on Tuesday. Morgan Stanley’s price target indicates a potential upside of 30.58% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Susquehanna restated a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Barclays decreased their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Baker Hughes Stock Performance

Shares of Baker Hughes stock traded up $0.47 during trading on Tuesday, hitting $32.93. 3,638,934 shares of the stock were exchanged, compared to its average volume of 8,685,756. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The stock’s fifty day moving average is $31.74 and its 200 day moving average is $32.56. The stock has a market cap of $32.96 billion, a PE ratio of 17.24, a P/E/G ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. As a group, sell-side analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Insider Buying and Selling

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BKR. Raymond James Financial Services Advisors Inc. increased its stake in Baker Hughes by 171.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 114,957 shares of the company’s stock valued at $3,851,000 after acquiring an additional 72,642 shares during the period. Norden Group LLC acquired a new stake in shares of Baker Hughes during the 1st quarter valued at about $2,392,000. Bourgeon Capital Management LLC boosted its holdings in Baker Hughes by 1.1% during the first quarter. Bourgeon Capital Management LLC now owns 217,860 shares of the company’s stock valued at $7,298,000 after purchasing an additional 2,441 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $27,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Baker Hughes by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,519,437 shares of the company’s stock valued at $184,901,000 after buying an additional 64,448 shares in the last quarter. 92.06% of the stock is currently 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.