Baker Hughes (NASDAQ:BKR) Earns Buy Rating from Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reiterated by Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $57.00 price target on the stock. Benchmark’s price target points to a potential upside of 22.82% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Evercore ISI lifted their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group boosted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Bank of America raised their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group increased their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $46.41 on Tuesday. The business has a 50-day simple moving average of $43.56 and a two-hundred day simple moving average of $39.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $45.92 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.63 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts expect that Baker Hughes will post 2.57 earnings per share for the current year.

Insider Transactions at Baker Hughes

In related 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 value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BKR. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. bought a new position in Baker Hughes in the 4th quarter valued at $30,000. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the third quarter worth $30,000. Finally, True Wealth Design LLC boosted its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. 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.