Baker Hughes (NASDAQ:BKR) Price Target Raised to $48.00 at Stifel Nicolaus

Baker Hughes (NASDAQ:BKR) had its price objective increased by Stifel Nicolaus from $45.00 to $48.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets increased their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Susquehanna lifted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Finally, TD Cowen increased their price target on Baker Hughes from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Trading Up 0.2 %

Shares of BKR stock opened at $43.61 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $43.15 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.17. The stock’s 50-day moving average price is $39.23 and its 200-day moving average price is $35.92.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.93%. Baker Hughes’s dividend payout ratio is presently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently made changes to their positions in BKR. Lazard Asset Management LLC lifted its position in shares of Baker Hughes by 26.7% during the first quarter. Lazard Asset Management LLC now owns 25,882 shares of the company’s stock valued at $866,000 after buying an additional 5,454 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Baker Hughes by 1.5% in the first quarter. Janus Henderson Group PLC now owns 968,208 shares of the company’s stock valued at $32,432,000 after acquiring an additional 14,610 shares in the last quarter. Dynasty Wealth Management LLC purchased a new position in Baker Hughes in the first quarter worth $235,000. B. Riley Wealth Advisors Inc. purchased a new position in Baker Hughes in the first quarter worth $279,000. Finally, California State Teachers Retirement System increased its position in shares of Baker Hughes by 8.4% during the first quarter. California State Teachers Retirement System now owns 2,303,740 shares of the company’s stock worth $77,175,000 after purchasing an additional 178,509 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

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.