Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by JPMorgan Chase & Co. from $50.00 to $52.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on BKR. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. BMO Capital Markets raised their price target on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Barclays lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.18.

Baker Hughes Trading Up 1.9 %

Shares of BKR stock opened at $48.85 on Monday. The company has a market capitalization of $48.34 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $48.94. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $43.20 and a 200 day moving average price of $39.28.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts forecast that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.88%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 28.19%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of BKR. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. bought a new stake in shares of Baker Hughes during the 4th quarter worth approximately $107,155,000. Yaupon Capital Management LP acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $47,296,000. Eagle Asset Management Inc. grew its stake in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after buying an additional 860,219 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after buying an additional 817,227 shares during 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.