Baker Hughes' (BKR) "Buy" Rating Reaffirmed at Benchmark

Baker Hughes (NASDAQ:BKR - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $57.00 target price on the stock. Benchmark's price objective suggests a potential upside of 22.73% from the company's previous close.

Several other research analysts also recently weighed in on BKR. TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Susquehanna lifted their price target on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.06.

Baker Hughes Stock Up 0.6 %

NASDAQ BKR traded up $0.30 during trading on Tuesday, reaching $46.45. 3,178,004 shares of the company's stock were exchanged, compared to its average volume of 7,705,316. The stock has a market cap of $45.96 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. 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 company has a 50 day moving average price of $43.71 and a two-hundred day moving average price of $39.78. Baker Hughes has a 1 year low of $28.66 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities research analysts anticipate that Baker Hughes will post 2.57 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction on Monday, January 27th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Baker Hughes in the third quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the fourth quarter valued at $30,000. Larson Financial Group LLC increased its stake in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

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.