Susquehanna Forecasts Strong Price Appreciation for Baker Hughes (NASDAQ:BKR) Stock

Baker Hughes (NASDAQ:BKR) had its target price lifted by Susquehanna from $65.00 to $70.00 in a report issued on Tuesday,MarketScreener reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 16.10% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on BKR. Capital One Financial lifted their target price on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. UBS Group lifted their target price on Baker Hughes from $61.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Johnson Rice assumed coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 target price on the stock. TD Cowen lifted their target price on Baker Hughes from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, Citigroup lifted their price target on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.39.

Baker Hughes Stock Down 0.7%

BKR opened at $60.30 on Tuesday. Baker Hughes has a one year low of $34.06 and a one year high of $67.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The stock’s fifty day moving average is $60.29 and its 200-day moving average is $52.47. The company has a market capitalization of $59.59 billion, a PE ratio of 23.19, a P/E/G ratio of 1.65 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR) last issued 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. The business had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. On average, equities analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,985 shares of the business’s 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 in the company, valued at $672,140.04. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Beattie sold 18,023 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was 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 three months, insiders have sold 590,251 shares of company stock worth $35,311,023. 0.27% of the stock is owned by company insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the stock. Activest Wealth Management lifted its position 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 buying an additional 497 shares during the last quarter. EFG International AG acquired a new stake in shares of Baker Hughes in the fourth quarter worth about $26,000. Cullen Frost Bankers Inc. lifted its position in shares of Baker Hughes by 344.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company’s stock worth $27,000 after buying an additional 468 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Baker Hughes by 104.0% in 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 during the last quarter. Finally, Quarry LP acquired a new stake in shares of Baker Hughes in the fourth quarter worth about $31,000. 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.