Baker Hughes (NASDAQ:BKR) Receives $41.13 Average PT from Analysts

Shares of Baker Hughes (NASDAQ:BKR) have been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $41.13.

A number of brokerages recently issued reports on BKR. Morgan Stanley upped their price target on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. The Goldman Sachs Group increased their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Wednesday, April 24th. Finally, UBS Group boosted their target price on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd.

Baker Hughes Price Performance

Shares of BKR opened at $34.47 on Thursday. The firm has a market capitalization of $34.40 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.60 and a beta of 1.43. The firm’s fifty day simple moving average is $32.47 and its 200-day simple moving average is $31.99. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. Baker Hughes’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. Equities analysts forecast that Baker Hughes will post 2.09 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.44%. Baker Hughes’s payout ratio is currently 46.93%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Norges Bank acquired a new stake in Baker Hughes in the 4th quarter valued at about $551,555,000. Northern Trust Corp increased its holdings in Baker Hughes by 4.0% during the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after acquiring an additional 379,385 shares in the last quarter. Morgan Stanley raised its position in 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 acquiring an additional 745,511 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after purchasing an additional 1,395,083 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.