Baker Hughes (NASDAQ:BKR) Price Target Raised to $52.00 at Evercore ISI

Baker Hughes (NASDAQ:BKR) had its target price increased by Evercore ISI from $46.00 to $52.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a 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 on the stock in a report on Wednesday, January 8th. Susquehanna raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. UBS Group dropped their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Stock Performance

Shares of BKR stock opened at $45.72 on Wednesday. The company has a 50 day moving average price of $42.54 and a 200-day moving average price of $38.14. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.90. The firm has a market capitalization of $45.24 billion, a PE ratio of 20.50, a P/E/G ratio of 0.79 and a beta of 1.39. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.21 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in Baker Hughes during the third quarter valued at $30,000. True Wealth Design LLC increased its position in Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares during the last quarter. Continuum Advisory LLC increased its position in Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after acquiring an additional 796 shares during the last quarter. Quarry LP increased its position in Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares during the last quarter. Finally, Eastern Bank increased its position in Baker Hughes by 598.4% during the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after acquiring an additional 1,490 shares during the last quarter. 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.