Benchmark Reiterates “Buy” Rating for Baker Hughes (NASDAQ:BKR)

Benchmark reiterated their buy rating on shares of Baker Hughes (NASDAQ:BKR) in a report published on Wednesday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

Other research analysts have also issued reports about the stock. Citigroup lowered their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a buy rating on the stock in a research note on Friday, January 26th. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Barclays reduced their target price on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a report on Friday, January 26th. Susquehanna reaffirmed a positive rating and set a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $40.94.

Baker Hughes Stock Down 1.0 %

Shares of BKR stock opened at $32.67 on Wednesday. The firm has a market capitalization of $32.70 billion, a P/E ratio of 17.10, a PEG ratio of 0.61 and a beta of 1.42. The firm’s fifty day moving average price is $31.89 and its two-hundred day moving average price is $32.55. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. 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 released its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. On average, equities analysts predict that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 43.98%.

Insider Buying and Selling at Baker Hughes

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

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY increased its position in Baker Hughes by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after purchasing an additional 303 shares in the last quarter. Blue Trust Inc. increased its position in Baker Hughes by 15.5% during the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock worth $85,000 after purchasing an additional 327 shares in the last quarter. Rational Advisors LLC increased its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after purchasing an additional 398 shares in the last quarter. Finally, Huntington National Bank increased its position in Baker Hughes by 8.2% during the 3rd quarter. Huntington National Bank now owns 5,501 shares of the company’s stock worth $194,000 after purchasing an additional 416 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.