Baker Hughes’ (BKR) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a $40.00 target price on the stock.

Several other analysts also recently commented on the stock. Morgan Stanley increased their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. UBS Group increased their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Susquehanna reissued a positive rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Monday, April 8th. Piper Sandler cut their price objective on shares of Baker Hughes from $45.00 to $44.00 and set an overweight rating on the stock in a research report on Monday, July 15th. Finally, Jefferies Financial Group increased their price objective on shares of Baker Hughes from $45.00 to $46.00 and gave the company a buy rating in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $40.92.

Baker Hughes Stock Up 5.8 %

NASDAQ:BKR opened at $37.65 on Friday. The firm’s 50-day moving average price is $33.64 and its 200-day moving average price is $32.25. The company has a market capitalization of $37.57 billion, a PE ratio of 21.03, a P/E/G ratio of 0.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $37.78.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.49%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts predict that Baker Hughes will post 2.11 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 55,980 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Baker Hughes

Several large investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its holdings in Baker Hughes by 45.9% during the second quarter. HB Wealth Management LLC now owns 25,239 shares of the company’s stock valued at $888,000 after purchasing an additional 7,943 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Baker Hughes by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 56,151 shares of the company’s stock worth $1,975,000 after buying an additional 1,204 shares in the last quarter. Conning Inc. purchased a new position in shares of Baker Hughes in the second quarter worth $204,000. Atomi Financial Group Inc. lifted its holdings in shares of Baker Hughes by 25.6% in the second quarter. Atomi Financial Group Inc. now owns 15,476 shares of the company’s stock worth $544,000 after buying an additional 3,157 shares in the last quarter. Finally, AMG National Trust Bank purchased a new position in shares of Baker Hughes in the second quarter worth $280,000. Hedge funds and other 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.