Baker Hughes (NASDAQ:BKR) Price Target Raised to $50.00 at Citigroup

Baker Hughes (NASDAQ:BKR) had its target price lifted by investment analysts at Citigroup from $42.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 16.36% from the stock’s current price.

A number of other analysts have also commented on the company. The Goldman Sachs Group boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Barclays raised their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.59.

Baker Hughes Trading Down 0.2 %

Baker Hughes stock traded down $0.10 during mid-day trading on Thursday, hitting $42.97. 3,012,961 shares of the company’s stock were exchanged, compared to its average volume of 7,234,432. The company’s 50 day simple moving average is $37.12 and its 200-day simple moving average is $35.07. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $42.52 billion, a P/E ratio of 19.23, a PEG ratio of 0.74 and a beta of 1.38. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the firm posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in Baker Hughes during the first quarter worth about $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes in the 2nd quarter worth about $42,000. Headlands Technologies LLC acquired a new position in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, Quarry LP grew its position in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares in 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.