Capital One Financial Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price target upped by Capital One Financial from $60.00 to $66.00 in a research note published on Friday morning,MarketScreener reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets upped their target price on shares of Baker Hughes from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Citigroup upped their price target on Baker Hughes from $64.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Susquehanna upped their price target on Baker Hughes from $65.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday. TD Cowen upped their price target on Baker Hughes from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on Baker Hughes from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Baker Hughes Price Performance

Baker Hughes stock opened at $62.83 on Friday. Baker Hughes has a 52 week low of $34.56 and a 52 week high of $67.00. The business’s fifty day moving average is $60.78 and its two-hundred day moving average is $52.82. The firm has a market cap of $62.09 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the business earned $0.70 earnings per share. Baker Hughes’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Tuesday, February 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Baker Hughes’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,985 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $55.77, for a total value of $110,703.45. Following the transaction, the chief accounting officer owned 12,052 shares of the company’s stock, valued at approximately $672,140.04. This represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 590,251 shares of company stock valued at $35,311,023. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators lifted its stake in Baker Hughes by 10.5% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company’s stock valued at $86,000 after buying an additional 179 shares during the period. Krilogy Financial LLC raised its holdings in Baker Hughes by 3.2% in the fourth quarter. Krilogy Financial LLC now owns 5,722 shares of the company’s stock worth $261,000 after purchasing an additional 180 shares during the period. 3Chopt Investment Partners LLC raised its holdings in Baker Hughes by 0.5% in the fourth quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company’s stock worth $1,944,000 after purchasing an additional 203 shares during the period. Formidable Asset Management LLC raised its holdings in Baker Hughes by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 7,341 shares of the company’s stock worth $358,000 after purchasing an additional 225 shares during the period. Finally, CoreCap Advisors LLC raised its holdings in Baker Hughes by 16.4% in the fourth quarter. CoreCap Advisors LLC now owns 1,619 shares of the company’s stock worth $74,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.