Baker Hughes’ (BKR) “Buy” Rating Reaffirmed at Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a report released on Wednesday, Benzinga reports. They presently have a $40.00 target price on the stock. Benchmark’s price objective suggests a potential upside of 22.93% from the company’s previous close.

Several other brokerages have also recently commented on BKR. Morgan Stanley raised their target price on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday. TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Down 1.4 %

Shares of BKR traded down $0.46 during midday trading on Wednesday, hitting $32.54. The stock had a trading volume of 5,983,882 shares, compared to its average volume of 8,697,770. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The business has a 50-day simple moving average of $31.82 and a two-hundred day simple moving average of $32.55. The firm has a market cap of $32.57 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Baker Hughes will post 2.07 EPS for the current year.

Insider Buying and Selling at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Large investors have recently bought and sold shares of the business. Spire Wealth Management grew its stake in shares of Baker Hughes by 256.7% during the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after acquiring an additional 552 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes during the 4th quarter worth approximately $33,000. Montag A & Associates Inc. boosted its holdings in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $36,000. 92.06% of the stock is owned by institutional investors.

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.