Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Baker Hughes (NASDAQ:BKR) had its target price raised by Wells Fargo & Company from $42.00 to $49.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on BKR. Barclays lifted their price target on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Citigroup boosted their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Three research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.53.

Baker Hughes Stock Down 0.9 %

Shares of Baker Hughes stock opened at $41.41 on Tuesday. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a market cap of $40.98 billion, a P/E ratio of 18.57, a PEG ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm has a fifty day moving average of $40.71 and a two-hundred day moving average of $36.85.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKR. Hotchkis & Wiley Capital Management LLC raised its position in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in Baker Hughes in the 3rd quarter worth approximately $47,296,000. Eagle Asset Management Inc. grew its stake in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Baker Hughes by 436.0% in the 3rd 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, Groupama Asset Managment lifted its stake in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

About Baker Hughes

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.