Baker Hughes (NASDAQ:BKR) Receives $40.94 Consensus Target Price from Analysts

Baker Hughes (NASDAQ:BKR) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $40.94.

A number of research analysts have recently weighed in on BKR shares. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. Citigroup cut their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Wednesday, April 24th. Finally, UBS Group raised their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd.

Insider Activity

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $551,555,000. Cardano Risk Management B.V. acquired a new position in Baker Hughes in the 1st quarter worth $117,083,000. FMR LLC boosted its position in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after buying an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC boosted its position in Baker Hughes by 846.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after buying an additional 2,127,675 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Baker Hughes by 47.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after acquiring an additional 1,822,487 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR stock opened at $32.14 on Wednesday. The stock has a fifty day moving average price of $32.44 and a 200 day moving average price of $32.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. The stock has a market cap of $32.08 billion, a PE ratio of 17.96, a P/E/G ratio of 0.55 and a beta of 1.44. Baker Hughes has a 1 year low of $26.96 and a 1 year high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts forecast that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.61%. Baker Hughes’s dividend payout ratio is presently 46.93%.

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.