Baker Hughes (NASDAQ:BKR) Price Target Cut to $41.00 by Analysts at Barclays

Baker Hughes (NASDAQ:BKR) had its target price decreased by investment analysts at Barclays from $42.00 to $41.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 11.17% from the stock’s current price.

Several other brokerages also recently commented on BKR. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on Baker Hughes from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets upped their price objective on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $43.59.

Baker Hughes Price Performance

NASDAQ BKR traded up $0.56 on Wednesday, hitting $36.88. 1,789,626 shares of the company’s stock were exchanged, compared to its average volume of 7,238,484. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $39.05. The stock has a 50-day moving average of $35.41 and a 200-day moving average of $34.23. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The stock has a market cap of $36.81 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.61 and a beta of 1.38.

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

Insider Activity at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

Institutional Trading of Baker Hughes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Twin Tree Management LP grew its holdings in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares in the last quarter. Diversified Trust Co grew its stake in Baker Hughes by 98.7% in the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock worth $1,676,000 after buying an additional 24,850 shares in the last quarter. Perpetual Ltd increased its holdings in shares of Baker Hughes by 440.1% in the 1st quarter. Perpetual Ltd now owns 64,499 shares of the company’s stock worth $2,161,000 after buying an additional 52,556 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Baker Hughes by 20.5% during the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock valued at $25,544,000 after purchasing an additional 123,689 shares in the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in shares of Baker Hughes in the first quarter worth about $117,083,000. Institutional investors own 92.06% of the company’s stock.

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.