Citigroup Cuts Baker Hughes (NASDAQ:BKR) Price Target to $53.00

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target cut by equities research analysts at Citigroup from $54.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 39.73% from the stock's previous close.

A number of other brokerages have also recently weighed in on BKR. Stifel Nicolaus lifted their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Susquehanna boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Finally, TD Cowen reduced their target price 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. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.18.

Remove Ads

Baker Hughes Trading Up 3.5 %

Shares of Baker Hughes stock traded up $1.27 during trading hours on Tuesday, hitting $37.93. The company's stock had a trading volume of 9,066,382 shares, compared to its average volume of 6,888,552. The firm has a fifty day moving average of $43.23 and a 200-day moving average of $42.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.00 and a beta of 1.08. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its stake in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $30,000. Larson Financial Group LLC grew its position in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares during the last quarter. Groupama Asset Managment increased its holdings in shares of Baker Hughes by 1,045.1% in the 3rd 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 during the period. Finally, Continuum Advisory LLC raised its position in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after purchasing an additional 796 shares during 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.