Susquehanna Increases Baker Hughes (NASDAQ:BKR) Price Target to $48.00

Baker Hughes (NASDAQ:BKR) had its price target raised by stock analysts at Susquehanna from $46.00 to $48.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 30.97% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group increased 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. UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets upped their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group upped their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.12.

Baker Hughes Stock Performance

BKR traded down $0.35 on Thursday, reaching $36.65. The company had a trading volume of 2,375,138 shares, compared to its average volume of 7,195,057. The stock has a market cap of $36.58 billion, a P/E ratio of 20.47, a P/E/G ratio of 0.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The company’s fifty day moving average is $35.61 and its 200 day moving average is $34.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts predict that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Baker Hughes by 41.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock valued at $1,448,000 after purchasing an additional 11,834 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Baker Hughes by 32.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 280,787 shares of the company’s stock worth $10,150,000 after purchasing an additional 69,046 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Baker Hughes by 8.6% during the third quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock valued at $235,000 after acquiring an additional 515 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Baker Hughes by 4.1% in the 3rd quarter. Ballentine Partners LLC now owns 21,568 shares of the company’s stock worth $780,000 after buying an additional 840 shares during the period. Finally, Tectonic Advisors LLC boosted its position in Baker Hughes by 5.6% during the 3rd quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock valued at $471,000 after acquiring an additional 687 shares in the last quarter. Hedge funds and other institutional investors 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.