Piper Sandler Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its target price boosted by research analysts at Piper Sandler from $53.00 to $55.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 17.12% from the company’s previous close.

BKR has been the subject of a number of other reports. Citigroup lifted their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. TD Cowen dropped their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.24.

Baker Hughes Trading Up 1.7 %

Shares of NASDAQ:BKR traded up $0.78 during midday trading on Monday, reaching $46.96. 3,176,073 shares of the company’s stock were exchanged, compared to its average volume of 7,566,447. The stock has a market cap of $46.47 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 0.89 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $47.60. The firm’s 50 day simple moving average is $43.03 and its two-hundred day simple moving average is $39.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

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

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently modified their holdings of the stock. Bridges Investment Management Inc. increased its position in Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the period. 180 Wealth Advisors LLC raised its position in Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after acquiring an additional 295 shares in the last quarter. Graypoint LLC lifted its holdings in Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares during the period. Key Financial Inc boosted its position in shares of Baker Hughes by 16.3% during the 4th quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after purchasing an additional 376 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Baker Hughes by 1.8% during the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after purchasing an additional 380 shares during the period. Hedge funds and other 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.