Baker Hughes (NASDAQ:BKR) Earns Outperform Rating from Royal Bank of Canada

Baker Hughes (NASDAQ:BKR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They currently have a $43.00 price objective on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 17.94% from the stock’s previous close.

BKR has been the topic of several other research reports. Morgan Stanley lifted their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Barclays lifted their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna raised their price target on shares of Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Piper Sandler dropped their target price 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 boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Baker Hughes Trading Down 1.5 %

Baker Hughes stock traded down $0.54 during trading hours on Thursday, reaching $36.46. 2,143,346 shares of the company’s stock were exchanged, compared to its average volume of 7,193,931. The firm’s 50 day simple moving average is $35.61 and its 200 day simple moving average is $34.35. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $36.39 billion, a PE ratio of 20.42, a PEG ratio of 0.61 and a beta of 1.38.

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

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the sale, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently bought and sold shares of BKR. UMB Bank n.a. lifted its holdings in shares of Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its stake in shares of Baker Hughes by 6.9% in the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after purchasing an additional 467 shares during the period. Lake Street Advisors Group LLC grew its position in Baker Hughes by 8.6% during the third quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after buying an additional 515 shares during the period. Meeder Advisory Services Inc. raised its position in Baker Hughes by 5.2% in the first quarter. Meeder Advisory Services Inc. now owns 10,438 shares of the company’s stock worth $350,000 after acquiring an additional 520 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Baker Hughes by 8.7% during the 2nd quarter. Signaturefd LLC now owns 6,890 shares of the company’s stock worth $242,000 after acquiring an additional 553 shares during 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.