UBS Group Increases Baker Hughes (NASDAQ:BKR) Price Target to $36.00

Baker Hughes (NASDAQ:BKR) had its price objective raised by analysts at UBS Group from $35.00 to $36.00 in a research report issued on Tuesday. UBS Group’s target price indicates a potential upside of 9.32% from the stock’s previous close.

Several other research firms have also weighed in on BKR. Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. TD Cowen upped their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Citigroup cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Barclays dropped their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, Morgan Stanley boosted their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Baker Hughes Stock Up 1.4 %

Shares of BKR traded up $0.47 during mid-day trading on Tuesday, hitting $32.93. 3,638,934 shares of the company’s stock were exchanged, compared to its average volume of 8,685,756. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a market cap of $32.96 billion, a PE ratio of 17.24, a P/E/G ratio of 0.62 and a beta of 1.42. The company has a 50-day simple moving average of $31.74 and a 200 day simple moving average of $32.56.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Baker Hughes

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in Baker Hughes in the fourth quarter valued at $4,813,000. Nordea Investment Management AB raised its holdings in Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Baker Hughes by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Baker Hughes by 8.7% in the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock valued at $106,365,000 after purchasing an additional 248,125 shares during the last quarter. Finally, DDD Partners LLC acquired a new stake in shares of Baker Hughes during the fourth quarter worth $11,054,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.