Baker Hughes (NASDAQ:BKR – Get Rating) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Wednesday, The Fly reports. The brokerage presently has a $32.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 12.83% from the company’s current price.
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BKR has been the subject of a number of other research reports. Barclays lifted their price objective on Baker Hughes from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Evercore ISI boosted their price target on Baker Hughes from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. HSBC raised their price objective on shares of Baker Hughes from $33.30 to $39.00 in a research note on Monday, January 30th. Citigroup boosted their target price on shares of Baker Hughes from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. Finally, BMO Capital Markets raised their price target on shares of Baker Hughes from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. One investment analyst has 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 a consensus rating of “Moderate Buy” and an average price target of $36.45.
Baker Hughes Price Performance
Shares of BKR opened at $28.36 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.32 and a quick ratio of 0.90. The company’s fifty day moving average price is $31.02 and its 200-day moving average price is $28.16. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $39.78. The firm has a market capitalization of $28.68 billion, a PE ratio of -47.27 and a beta of 1.46.
Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $6.07 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes will post 1.57 EPS for the current year.
Insider Buying and Selling at Baker Hughes
In related news, EVP Maria C. Borras sold 9,811 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the sale, the executive vice president now owns 59,463 shares of the company’s stock, valued at approximately $1,839,190.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Baker Hughes
Several institutional investors and hedge funds have recently bought and sold shares of the company. Utah Retirement Systems raised its position in shares of Baker Hughes by 25.7% during the 2nd quarter. Utah Retirement Systems now owns 165,051 shares of the company’s stock valued at $4,765,000 after buying an additional 33,700 shares during the period. CastleArk Alternatives LLC purchased a new stake in Baker Hughes in the second quarter valued at $388,000. Guggenheim Capital LLC lifted its stake in shares of Baker Hughes by 4.9% in the 3rd quarter. Guggenheim Capital LLC now owns 283,158 shares of the company’s stock valued at $5,935,000 after purchasing an additional 13,204 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Baker Hughes by 4.2% during the 3rd quarter. Mission Wealth Management LP now owns 23,407 shares of the company’s stock worth $491,000 after purchasing an additional 933 shares during the period. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth about $1,288,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.
Baker Hughes Company Profile
Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.
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