Baker Hughes (NASDAQ:BKR) Price Target Raised to $55.00

Baker Hughes (NASDAQ:BKR) had its price target lifted by Barclays from $51.00 to $55.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America lifted their price objective 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $50.18.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $46.98 on Tuesday. The company has a 50-day moving average of $43.30 and a 200-day moving average of $39.35. The firm has a market cap of $46.49 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39. 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 has a twelve month low of $28.63 and a twelve month high of $49.40.

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

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s payout ratio is presently 28.19%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BKR. Vestmark Advisory Solutions Inc. purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $2,501,000. Raymond James Financial Inc. purchased a new stake in Baker Hughes in the fourth quarter worth $291,289,000. Arizona State Retirement System raised its holdings in Baker Hughes by 0.9% in the fourth quarter. Arizona State Retirement System now owns 288,510 shares of the company’s stock worth $11,835,000 after purchasing an additional 2,586 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Baker Hughes during the fourth quarter valued at $4,410,000. Finally, M&T Bank Corp boosted its holdings in shares of Baker Hughes by 8.3% during the 4th quarter. M&T Bank Corp now owns 52,059 shares of the company’s stock valued at $2,135,000 after buying an additional 3,984 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.