Baker Hughes (NASDAQ:BKR) Receives $44.59 Consensus Target Price from Brokerages

Shares of Baker Hughes (NASDAQ:BKR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $44.59.

BKR has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Barclays upped their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. Finally, Morgan Stanley boosted their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd.

Institutional Trading of Baker Hughes

A number of institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Baker Hughes during the 3rd quarter worth $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in Baker Hughes in the 1st quarter worth approximately $34,000. Finally, Continuum Advisory LLC grew its position in Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $42.94 on Friday. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a 50 day moving average price of $37.48 and a 200-day moving average price of $35.21. Baker Hughes has a one year low of $28.32 and a one year high of $44.49.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company 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 firm earned $0.42 earnings per share. Baker Hughes's quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. Baker Hughes's dividend payout ratio is presently 37.67%.

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.