Baker Hughes (NASDAQ:BKR) Given New $50.00 Price Target at Citigroup

Baker Hughes (NASDAQ:BKR) had its price target boosted by Citigroup from $42.00 to $50.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on BKR. Morgan Stanley boosted their target price on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Susquehanna boosted their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Evercore ISI boosted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, 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 research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Price Performance

Baker Hughes stock traded down $0.44 during trading hours on Thursday, hitting $42.74. 2,277,352 shares of the stock were exchanged, compared to its average volume of 7,231,725. The business’s 50-day moving average is $37.30 and its two-hundred day moving average is $35.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $44.49. The stock has a market capitalization of $42.29 billion, a P/E ratio of 19.24, a P/E/G ratio of 0.73 and a beta of 1.38.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.97%. Baker Hughes’s payout ratio is 37.67%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after acquiring an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock valued at $36,318,000 after acquiring an additional 817,227 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after acquiring an additional 780,417 shares during the period. 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.