Baker Hughes (NASDAQ:BKR) Given New $55.00 Price Target at Barclays

Baker Hughes (NASDAQ:BKR) had its price target boosted by Barclays from $51.00 to $55.00 in a report released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the company. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets increased their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price target on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.18.

Baker Hughes Stock Down 3.8 %

Shares of Baker Hughes stock opened at $46.98 on Tuesday. Baker Hughes has a twelve month low of $28.63 and a twelve month high of $49.40. 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 company’s 50 day moving average is $43.30 and its 200 day moving average is $39.35. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

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

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of the business. JFS Wealth Advisors LLC raised its position in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes during the third quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at $30,000. True Wealth Design LLC raised its holdings in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Finally, Groupama Asset Managment lifted its stake in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.