Zephirin Group Increases Baker Hughes (NASDAQ:BKR) Price Target to $45.00

Baker Hughes (NASDAQ:BKR) had its target price lifted by equities research analysts at Zephirin Group from $40.00 to $45.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “hold” rating on the stock. Zephirin Group’s price objective suggests a potential downside of 16.58% from the company’s current price.

A number of other analysts also recently commented on the stock. Bank of America boosted their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Susquehanna raised their price objective on Baker Hughes from $56.00 to $58.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Citigroup upped their target price on Baker Hughes from $55.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Finally, Stifel Nicolaus increased their price objective on shares of Baker Hughes from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $54.22.

Baker Hughes Stock Performance

Shares of BKR stock opened at $53.95 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes has a 12-month low of $33.60 and a 12-month high of $55.31. The company has a market cap of $53.23 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. The stock has a 50 day simple moving average of $48.46 and a 200-day simple moving average of $46.61.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Formidable Asset Management LLC grew its position in shares of Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock valued at $358,000 after purchasing an additional 225 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Baker Hughes by 16.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after acquiring an additional 228 shares during the period. Forum Financial Management LP boosted its position in shares of Baker Hughes by 1.4% in the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock worth $662,000 after acquiring an additional 233 shares during the last quarter. AMG National Trust Bank grew its holdings in Baker Hughes by 3.7% in the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock valued at $333,000 after purchasing an additional 246 shares during the period. Finally, JFS Wealth Advisors LLC increased its position in Baker Hughes by 45.1% during the fourth quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.