Baker Hughes (NASDAQ:BKR) Price Target Raised to $36.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its target price upped by UBS Group from $35.00 to $36.00 in a research report sent to investors on Tuesday morning.

BKR has been the subject of several other reports. Barclays reduced their price objective on Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group upped their price objective on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Royal Bank of Canada reaffirmed an outperform rating and set a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. TD Cowen upped their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Susquehanna reaffirmed a positive rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $40.94.

Baker Hughes Stock Down 1.4 %

NASDAQ:BKR opened at $32.84 on Tuesday. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42. The stock has a 50-day moving average price of $32.05 and a two-hundred day moving average price of $32.54.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.56%. Baker Hughes’s dividend payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on 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 owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $551,555,000. FMR LLC increased its stake in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares during the period. Northern Trust Corp increased its stake in shares of Baker Hughes by 4.0% during the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after purchasing an additional 379,385 shares during the period. Morgan Stanley increased its stake in shares of Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Baker Hughes by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after buying an additional 1,395,083 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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.