Baker Hughes (NASDAQ:BKR) Given New $50.00 Price Target at Jefferies Financial Group

Baker Hughes (NASDAQ:BKR - Free Report) had its target price increased by Jefferies Financial Group from $48.00 to $50.00 in a report published on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus boosted their price objective on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Wells Fargo & Company upped their price objective on Baker Hughes from $42.00 to $49.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Citigroup raised their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Benchmark reiterated a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Three 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.12.

Baker Hughes Stock Up 2.6 %

NASDAQ:BKR traded up $1.10 during trading hours on Friday, reaching $42.66. The company's stock had a trading volume of 7,474,920 shares, compared to its average volume of 6,500,960. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The stock has a 50 day moving average price of $41.61 and a two-hundred day moving average price of $37.52. The company has a market capitalization of $42.21 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share 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 firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter last year, the firm earned $0.42 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.97%. Baker Hughes's dividend payout ratio (DPR) is presently 37.67%.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes during the third quarter worth about $30,000. True Wealth Design LLC lifted 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 worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment grew its holdings in Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after acquiring an additional 811,711 shares in the last quarter. Continuum Advisory LLC increased its position in shares of 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. Finally, Alta Advisers Ltd acquired a new stake in shares of Baker Hughes in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors 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.