Baker Hughes (NASDAQ:BKR) PT Raised to $38.00 at The Goldman Sachs Group

Baker Hughes (NASDAQ:BKR) had its target price increased by equities researchers at The Goldman Sachs Group from $36.00 to $38.00 in a research note issued on Tuesday. The Goldman Sachs Group’s price target would suggest a potential upside of 15.40% from the stock’s current price.

A number of other brokerages also recently commented on BKR. TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. Citigroup lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Barclays decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Baker Hughes Trading Up 1.4 %

NASDAQ:BKR traded up $0.47 on Tuesday, reaching $32.93. 3,638,934 shares of the company’s stock were exchanged, compared to its average volume of 8,685,756. The business has a fifty day moving average of $31.74 and a 200-day moving average of $32.56. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the business posted $0.38 earnings per share. Baker Hughes’s revenue was up 15.7% compared to the same quarter last year. As a group, analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Insider Activity at Baker Hughes

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

Institutional Trading of Baker Hughes

Institutional investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in Baker Hughes in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes in the 4th quarter valued at $33,000. Montag A & Associates Inc. lifted its holdings in shares of Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Baker Hughes during the 3rd quarter worth $36,000. Finally, Rational Advisors LLC raised its position in Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the period. 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.