Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Evercore ISI Analyst Says

Baker Hughes (NASDAQ:BKR - Free Report) had its price target hoisted by Evercore ISI from $46.00 to $52.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

BKR has been the subject of a number of other reports. Morgan Stanley boosted their price objective on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Jefferies Financial Group upped 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. Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $42.00 to $49.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $47.53.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.65 during trading on Wednesday, hitting $45.72. The company's stock had a trading volume of 6,171,919 shares, compared to its average volume of 6,287,420. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The firm has a market cap of $45.24 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a 50-day moving average of $42.54 and a 200-day moving average of $38.14. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.90.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its 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 return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same period last year, the firm earned $0.42 EPS. Baker Hughes's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts expect that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.84%. Baker Hughes's dividend payout ratio (DPR) is 37.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bridges Investment Management Inc. raised its position in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock valued at $333,000 after purchasing an additional 273 shares during the period. 180 Wealth Advisors LLC raised its holdings in Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock valued at $923,000 after buying an additional 295 shares during the period. Graypoint LLC raised its holdings in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company's stock valued at $372,000 after buying an additional 301 shares during the period. First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after buying an additional 398 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock worth $326,000 after buying an additional 401 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.