Royal Bank of Canada reiterated their outperform rating on shares of Baker Hughes (NASDAQ:BKR - Free Report) in a report released on Thursday, Benzinga reports. The brokerage currently has a $43.00 price objective on the stock.
Several other equities analysts also recently weighed in on the company. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Morgan Stanley raised their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, October 3rd. Evercore ISI lifted their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Finally, Bank of America decreased their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.12.
Read Our Latest Research Report on Baker Hughes
Baker Hughes Stock Performance
Shares of Baker Hughes stock traded down $0.22 during trading on Thursday, hitting $36.78. 7,045,167 shares of the company's stock traded hands, compared to its average volume of 7,217,727. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The business has a 50-day simple moving average of $35.61 and a 200-day simple moving average of $34.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a market capitalization of $36.71 billion, a P/E ratio of 20.54, a PEG ratio of 0.61 and a beta of 1.38.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted 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 net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm's revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.25 EPS for the current year.
Baker Hughes Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes's dividend payout ratio is currently 46.93%.
Insider Buying and Selling
In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company's stock, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Baker Hughes
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes during the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes in the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new position in Baker Hughes in the second quarter valued at about $42,000. Headlands Technologies LLC purchased a new stake in shares of Baker Hughes during the second quarter valued at about $48,000. Finally, Quarry LP raised its stake in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after acquiring an additional 714 shares in the last quarter. 92.06% of the stock is owned by institutional investors.
About Baker Hughes
(
Get Free Report)
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.
Recommended Stories
Before you consider Baker Hughes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Baker Hughes wasn't on the list.
While Baker Hughes currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
