Baker Hughes (NASDAQ:BKR) Price Target Raised to $55.00 at Piper Sandler

Baker Hughes (NASDAQ:BKR - Free Report) had its price objective hoisted by Piper Sandler from $53.00 to $55.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on BKR. Argus upgraded shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Benchmark reissued a "buy" rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Royal Bank of Canada raised their target price on Baker Hughes from $43.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $50.18.

Baker Hughes Stock Down 4.0 %

Shares of BKR traded down $1.97 during trading hours on Monday, hitting $46.88. The stock had a trading volume of 6,418,785 shares, compared to its average volume of 8,094,505. Baker Hughes has a 1-year low of $28.63 and a 1-year high of $49.40. The firm has a market capitalization of $46.39 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. The firm has a 50 day simple moving average of $43.30 and a 200-day simple moving average of $39.35. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts predict that Baker Hughes will post 2.55 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.96%. Baker Hughes's dividend payout ratio is presently 28.19%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the stock. National Pension Service boosted its stake in Baker Hughes by 6.4% in the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company's stock worth $49,271,000 after purchasing an additional 81,625 shares during the period. Burney Co. boosted its position in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after acquiring an additional 105,349 shares during the period. Northstar Advisory Group LLC purchased a new position in Baker Hughes during the fourth quarter valued at approximately $1,180,000. Artemis Investment Management LLP increased its holdings in Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after acquiring an additional 239,773 shares during the period. Finally, Czech National Bank boosted its holdings in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock valued at $8,801,000 after purchasing an additional 12,178 shares during the period. 92.06% of the stock is owned by institutional investors.

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.