Barclays Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its price objective boosted by Barclays from $46.00 to $52.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America lifted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Baker Hughes Trading Down 0.4 %

NASDAQ:BKR traded down $0.16 during trading hours on Wednesday, reaching $39.88. 1,211,085 shares of the company were exchanged, compared to its average volume of 7,099,076. The firm has a market cap of $39.46 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.72 and a beta of 1.40. The stock has a 50 day simple moving average of $40.76 and a 200 day simple moving average of $36.87. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

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

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Institutional Trading of Baker Hughes

Institutional investors have recently added to or reduced their stakes in the stock. Birmingham Capital Management Co. Inc. AL increased its holdings in Baker Hughes by 18.5% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after buying an additional 2,500 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Baker Hughes during the 3rd quarter worth approximately $139,000. Sanctuary Advisors LLC grew its position in shares of Baker Hughes by 92.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock worth $3,180,000 after acquiring an additional 42,148 shares in the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of Baker Hughes by 3.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company’s stock valued at $1,169,000 after acquiring an additional 1,053 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Baker Hughes by 69.7% in the 3rd quarter. Toronto Dominion Bank now owns 527,501 shares of the company’s stock valued at $19,069,000 after acquiring an additional 216,613 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.