Brokerages Set Baker Hughes (NASDAQ:BKR) Price Target at $51.06

Baker Hughes (NASDAQ:BKR) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $51.06.

A number of brokerages recently commented on BKR. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus increased their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of BKR. Quest Partners LLC lifted its stake in shares of Baker Hughes by 446,900.0% during the 3rd quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock valued at $162,000 after buying an additional 4,469 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Baker Hughes by 11.4% in the third quarter. Caprock Group LLC now owns 33,955 shares of the company’s stock worth $1,227,000 after acquiring an additional 3,475 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Baker Hughes by 13.0% in the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock worth $4,871,000 after acquiring an additional 15,477 shares during the period. Commerce Bank grew its position in shares of Baker Hughes by 3.1% during the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock worth $1,113,000 after purchasing an additional 921 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Baker Hughes by 20.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 89,488 shares of the company’s stock worth $3,235,000 after purchasing an additional 15,172 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Down 2.6 %

Shares of BKR opened at $44.02 on Friday. The firm has a fifty day simple moving average of $44.93 and a two-hundred day simple moving average of $41.59. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market capitalization of $43.58 billion, a P/E ratio of 14.77, a PEG ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

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.