Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at JPMorgan Chase & Co.

Baker Hughes (NASDAQ:BKR) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $50.00 to $52.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.60% from the stock’s previous close.

BKR has been the subject of several other reports. Barclays raised their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Citigroup increased their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Finally, Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.59.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $46.18 on Monday. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $47.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business has a fifty day moving average price of $43.03 and a 200-day moving average price of $39.12. The company has a market capitalization of $45.70 billion, a PE ratio of 15.50, a PEG ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts expect that Baker Hughes will post 2.55 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BKR. Geode Capital Management LLC raised its stake in Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock valued at $230,271,000 after purchasing an additional 45,324 shares during the period. Institutional investors own 92.06% of the company’s stock.

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.