Baker Hughes (NASDAQ:BKR) Given New $46.00 Price Target at Barclays

Baker Hughes (NASDAQ:BKR) had its target price lifted by equities researchers at Barclays from $41.00 to $46.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 24.32% from the stock’s previous close.

A number of other research firms have also weighed in on BKR. Morgan Stanley lifted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Evercore ISI boosted their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Citigroup lowered their price objective on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $43.88.

Baker Hughes Price Performance

Baker Hughes stock opened at $37.00 on Thursday. The stock has a 50-day moving average price of $35.61 and a two-hundred day moving average price of $34.35. The company has a market capitalization of $36.93 billion, a PE ratio of 20.67, a P/E/G ratio of 0.61 and a beta of 1.38. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. Analysts expect that Baker Hughes will post 2.25 EPS for the current year.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently modified their holdings of BKR. Redmont Wealth Advisors LLC acquired a new stake in Baker Hughes during the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the 1st quarter valued at about $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes during the 2nd quarter valued at about $42,000. Headlands Technologies LLC acquired a new stake in Baker Hughes in the 2nd quarter valued at approximately $48,000. Finally, Quarry LP raised its stake in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after purchasing an additional 714 shares in the last quarter. 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.