Baker Hughes Company (NASDAQ:BKR) Stock Has Average Price Target of $70.27 According to Analysts

Baker Hughes Company (NASDAQ:BKR) has been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $70.27.

BKR has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Baker Hughes in a research note on Friday, October 9th. Susquehanna lifted their target price on shares of Baker Hughes from $72.00 to $75.00 and gave the company a “positive” rating in a research note on Thursday, September 10th. TD Cowen increased their price target on Baker Hughes from $76.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Zacks Research cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th.

Baker Hughes Stock Performance

Shares of BKR stock traded up $0.58 during trading hours on Thursday, reaching $49.44. 5,591,344 shares of the company traded hands, compared to its average volume of 10,022,590. Baker Hughes has a 12-month low of $44.26 and a 12-month high of $70.41. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90. The company has a market cap of $49.10 billion, a P/E ratio of 17.05, a P/E/G ratio of 2.33 and a beta of 1.07. The firm has a 50-day moving average price of $55.44 and a 200 day moving average price of $59.87.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.74 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Baker Hughes will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, Director John Rice bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $53.10 per share, with a total value of $531,000.00. Following the purchase, the director owned 77,315 shares of the company’s stock, valued at $4,105,426.50. This trade represents a 14.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC raised its stake in shares of Baker Hughes by 0.6% in the first quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after purchasing an additional 163 shares in the last quarter. Resolute Wealth Strategies LLC boosted its stake in Baker Hughes by 2.7% during the first quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after buying an additional 172 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock worth $40,000 after buying an additional 214 shares in the last quarter. Paladin Wealth LLC boosted its stake in Baker Hughes by 2.6% during the third quarter. Paladin Wealth LLC now owns 9,162 shares of the company’s stock worth $503,000 after buying an additional 230 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in Baker Hughes by 36.3% in the 2nd quarter. Anchor Investment Management LLC now owns 954 shares of the company’s stock valued at $53,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.