Baker Hughes (NASDAQ:BKR - Free Report) had its price objective lifted by Royal Bank of Canada from $49.00 to $53.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
A number of other research analysts have also commented on BKR. Stifel Nicolaus upped their price target on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Bank of America upped their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Atb Cap Markets cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.18.
Read Our Latest Stock Analysis on Baker Hughes
Baker Hughes Trading Down 4.0 %
Shares of Baker Hughes stock traded down $1.97 during trading on Monday, reaching $46.88. The company's stock had a trading volume of 6,418,785 shares, compared to its average volume of 8,094,505. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The firm's 50-day moving average is $43.30 and its two-hundred day moving average is $39.35. The company has a market cap of $46.39 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 0.89 and a beta of 1.39.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Baker Hughes will post 2.55 earnings per share for the current year.
Baker Hughes Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.96%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is presently 28.19%.
Insider Activity
In other news, EVP Maria C. Borras sold 8,000 shares of the company'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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.25% of the company's stock.
Institutional Trading of Baker Hughes
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the period. Congress Asset Management Co. bought a new stake in shares of Baker Hughes in the fourth quarter worth about $107,155,000. Yaupon Capital Management LP purchased a new position in Baker Hughes during the 3rd quarter valued at approximately $47,296,000. Eagle Asset Management Inc. increased its stake in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company's stock worth $198,326,000 after acquiring an additional 860,219 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Baker Hughes by 436.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company's stock worth $36,318,000 after acquiring an additional 817,227 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.
About Baker Hughes
(
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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.
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