Baker Hughes (NASDAQ:BKR) Stock Rating Reaffirmed by Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 price objective on the stock. Benchmark’s target price would indicate a potential upside of 15.19% from the company’s current price.

A number of other research firms have also commented on BKR. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Piper Sandler reduced their target price on shares of Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Citigroup dropped their price target on Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Finally, Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Baker Hughes Stock Down 1.5 %

Shares of BKR stock traded down $0.54 on Thursday, hitting $36.46. The company’s stock had a trading volume of 2,143,346 shares, compared to its average volume of 7,193,931. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The firm’s fifty day moving average price is $35.61 and its 200-day moving average price is $34.35. The stock has a market capitalization of $36.39 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.61 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 firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. Research analysts anticipate that Baker Hughes will post 2.25 EPS for the current year.

Insider Buying and Selling

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’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 completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $581,729,000 after buying an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP lifted its stake in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after buying an additional 612,715 shares in the last quarter. Institutional investors and hedge funds 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.