Baker Hughes (NASDAQ:BKR) Price Target Raised to $40.00

Baker Hughes (NASDAQ:BKR) had its price objective lifted by Zephirin Group from $37.00 to $40.00 in a report issued on Thursday morning,MarketScreener reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also commented on BKR. JPMorgan Chase & Co. increased their price target on Baker Hughes from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, July 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Melius initiated coverage on shares of Baker Hughes in a research note on Wednesday, August 20th. They set a “buy” rating and a $60.00 price target for the company. Finally, Evercore ISI increased their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Twenty-two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.00.

Baker Hughes Stock Up 0.2%

Shares of BKR stock opened at $48.50 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The company’s fifty day moving average price is $45.69 and its 200-day moving average price is $41.22. The company has a market capitalization of $47.82 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.21 and a beta of 0.99. Baker Hughes has a one year low of $33.60 and a one year high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 5th. Baker Hughes’s dividend payout ratio is 30.07%.

Insider Transactions at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lorenzo Simonelli sold 526,568 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,068 shares of company stock worth $24,712,651 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Baker Hughes by 2.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock worth $27,314,000 after buying an additional 17,035 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Baker Hughes by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 24,455 shares of the company’s stock valued at $1,075,000 after purchasing an additional 8,351 shares during the last quarter. Principal Financial Group Inc. increased its stake in Baker Hughes by 7.2% during the first quarter. Principal Financial Group Inc. now owns 1,239,175 shares of the company’s stock worth $54,462,000 after acquiring an additional 82,706 shares during the last quarter. Stack Financial Management Inc purchased a new stake in Baker Hughes in the 1st quarter valued at about $12,890,000. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $360,000. 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.