Baker Hughes’ (BKR) “Buy” Rating Reiterated at Benchmark

Baker Hughes (NASDAQ:BKR)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $40.00 price target on the stock. Benchmark’s price target points to a potential upside of 22.93% from the company’s current price.

A number of other equities analysts have also commented on BKR. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. The Goldman Sachs Group lifted their price target on Baker Hughes from $36.00 to $38.00 in a research note on Tuesday. Morgan Stanley lifted their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Barclays decreased their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, TD Cowen lifted their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Stock Down 1.4 %

Shares of BKR stock traded down $0.46 during trading hours on Wednesday, reaching $32.54. The company had a trading volume of 5,983,882 shares, compared to its average volume of 8,697,770. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The business has a fifty day simple moving average of $31.82 and a 200-day simple moving average of $32.55. The company has a market cap of $32.57 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business posted $0.28 earnings per share. Baker Hughes’s revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BKR. Avitas Wealth Management LLC raised its holdings in Baker Hughes by 48.5% in the 1st quarter. Avitas Wealth Management LLC now owns 11,012 shares of the company’s stock valued at $369,000 after acquiring an additional 3,599 shares during the last quarter. Spire Wealth Management raised its holdings in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after acquiring an additional 552 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Baker Hughes by 2.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,734 shares of the company’s stock valued at $1,197,000 after acquiring an additional 993 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Baker Hughes by 857.0% in the 1st quarter. Venturi Wealth Management LLC now owns 2,517 shares of the company’s stock valued at $84,000 after acquiring an additional 2,254 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Baker Hughes by 171.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 114,957 shares of the company’s stock valued at $3,851,000 after acquiring an additional 72,642 shares during the last quarter. Institutional investors and hedge funds 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.