Baker Hughes (NASDAQ:BKR) Given New $59.00 Price Target at Jefferies Financial Group

Baker Hughes (NASDAQ:BKR) had its target price boosted by Jefferies Financial Group from $58.00 to $59.00 in a report published on Thursday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

BKR has been the topic of several other research reports. Bank of America raised their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Barclays increased their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. UBS Group lifted their price target on Baker Hughes from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Seaport Res Ptn downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 29th. Finally, Evercore ISI set a $54.00 target price on Baker Hughes in a research note on Monday, October 27th. Twenty-three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.42.

Baker Hughes Trading Up 1.0%

Shares of NASDAQ:BKR traded up $0.50 during midday trading on Thursday, reaching $48.57. The company’s stock had a trading volume of 1,270,138 shares, compared to its average volume of 7,551,043. The firm has a market capitalization of $47.92 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.06 and a beta of 1.03. The firm has a 50 day moving average price of $47.66 and a two-hundred day moving average price of $43.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes has a fifty-two week low of $33.60 and a fifty-two week high of $50.92.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $5.09 billion for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. As a group, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Insider Buying and Selling

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’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 sale, the executive vice president owned 40,520 shares of the company’s stock, valued at $2,026,000. The trade was a 38.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer directly owned 11,772 shares of the company’s stock, valued at $588,600. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently bought and sold shares of the company. Activest Wealth Management increased its holdings in shares of Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after purchasing an additional 497 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Baker Hughes during the first quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock worth $32,000 after buying an additional 337 shares in the last quarter. Harbour Investments Inc. increased its stake in Baker Hughes by 61.7% in the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock worth $33,000 after acquiring an additional 326 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Baker Hughes in the 2nd quarter valued at about $36,000. 92.06% of the stock is currently owned by hedge funds and other 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.