Baker Hughes (NASDAQ:BKR) Price Target Cut to $48.00 by Analysts at Susquehanna

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price objective decreased by analysts at Susquehanna from $55.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's target price suggests a potential upside of 23.52% from the company's previous close.

Several other equities analysts also recently weighed in on BKR. Piper Sandler lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price target on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.65.

Baker Hughes Stock Performance

BKR traded up $0.73 during trading on Monday, hitting $38.86. 5,548,880 shares of the company traded hands, compared to its average volume of 6,880,953. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The stock's fifty day moving average is $42.50 and its 200 day moving average is $42.05. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $38.47 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, 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 at this link. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its stake in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC boosted its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Baker Hughes by 76.2% during the first quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after acquiring an additional 320 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Baker Hughes during the 4th quarter valued at approximately $45,000. 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.