Baker Hughes (NASDAQ:BKR) Price Target Raised to $54.00

Baker Hughes (NASDAQ:BKR) had its price objective hoisted by Wells Fargo & Company from $49.00 to $54.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 15.62% from the stock’s previous close.

A number of other research firms also recently commented on BKR. Citigroup boosted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler initiated coverage on shares of Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 price target on the stock. Benchmark restated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Bank of America increased their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Susquehanna increased their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $48.88.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.52 during mid-day trading on Monday, hitting $46.70. The stock had a trading volume of 2,423,989 shares, compared to its average volume of 7,512,319. The stock has a market capitalization of $46.21 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a 50 day simple moving average of $43.03 and a 200-day simple moving average of $39.12. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.60. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts expect that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bridges Investment Management Inc. increased its stake in shares of Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after purchasing an additional 295 shares during the last quarter. Graypoint LLC increased its stake in shares of Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares during the last quarter. Key Financial Inc increased its stake in shares of Baker Hughes by 16.3% during the 4th quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after purchasing an additional 376 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Baker Hughes by 1.8% during the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Company Profile

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.