Baker Hughes (NASDAQ:BKR) Price Target Raised to $45.00 at BMO Capital Markets

Baker Hughes (NASDAQ:BKR) had its price objective boosted by BMO Capital Markets from $43.00 to $45.00 in a report issued on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $42.00 to $43.00 and gave the company an overweight rating in a research note on Monday, July 29th. Benchmark restated a buy rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Friday, July 26th. Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an overweight rating in a research report on Thursday, October 3rd. Evercore ISI boosted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an outperform rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised their target price on Baker Hughes from $40.00 to $45.00 and gave the company a buy rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $43.65.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $37.70 on Thursday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company’s 50 day moving average price is $35.30 and its two-hundred day moving average price is $34.19. The firm has a market cap of $37.62 billion, a PE ratio of 21.06, a PEG ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Equities research analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.23%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. bought a new position in Baker Hughes during the 4th quarter worth approximately $3,143,000. Bridgefront Capital LLC increased its position in shares of Baker Hughes by 79.2% during the fourth quarter. Bridgefront Capital LLC now owns 12,780 shares of the company’s stock worth $437,000 after buying an additional 5,650 shares during the period. Gotham Asset Management LLC raised its stake in Baker Hughes by 12.5% during the fourth quarter. Gotham Asset Management LLC now owns 298,957 shares of the company’s stock worth $10,218,000 after buying an additional 33,295 shares during the last quarter. Palo Duro Investment Partners LP lifted its holdings in Baker Hughes by 10.7% in the fourth quarter. Palo Duro Investment Partners LP now owns 213,389 shares of the company’s stock valued at $7,294,000 after buying an additional 20,585 shares during the period. Finally, Profund Advisors LLC boosted its position in Baker Hughes by 10.0% during the fourth quarter. Profund Advisors LLC now owns 156,047 shares of the company’s stock valued at $5,334,000 after acquiring an additional 14,151 shares during the last quarter. 92.06% of the stock is currently owned by 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.