Baker Hughes (NASDAQ:BKR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target raised by Wells Fargo & Company from $42.00 to $49.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 18.33% from the stock's current price.

Several other equities research analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on Baker Hughes from $43.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Benchmark reissued a "buy" rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Susquehanna boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Finally, Barclays boosted their target price on Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.53.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.39 during mid-day trading on Tuesday, hitting $41.41. The company had a trading volume of 7,534,733 shares, compared to its average volume of 7,125,751. The company has a market capitalization of $40.98 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.72 and a beta of 1.40. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The stock's 50-day moving average price is $40.71 and its 200-day moving average price is $36.85. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

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 (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. On average, sell-side analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Baker Hughes by 20.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,216 shares of the company's stock worth $992,000 after acquiring an additional 4,884 shares during the period. Blue Trust Inc. grew its holdings in shares of Baker Hughes by 54.2% during the 2nd quarter. Blue Trust Inc. now owns 4,924 shares of the company's stock worth $165,000 after acquiring an additional 1,731 shares during the period. Fifth Third Bancorp grew its holdings in shares of Baker Hughes by 16.0% during the 2nd quarter. Fifth Third Bancorp now owns 36,302 shares of the company's stock worth $1,277,000 after acquiring an additional 4,997 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Baker Hughes during the 2nd quarter worth approximately $536,000. Finally, JB Capital LLC grew its holdings in shares of Baker Hughes by 4.1% during the 2nd quarter. JB Capital LLC now owns 74,047 shares of the company's stock worth $2,604,000 after acquiring an additional 2,926 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Company Profile

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.