Susquehanna Raises Baker Hughes (NASDAQ:BKR) Price Target to $80.00
by Scott Moore · The Cerbat GemBaker Hughes (NASDAQ:BKR – Get Free Report) had its price objective upped by investment analysts at Susquehanna from $70.00 to $80.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 14.87% from the company’s previous close.
Several other research analysts have also issued reports on the company. Argus raised their target price on Baker Hughes from $55.00 to $67.00 in a research report on Tuesday, January 27th. Piper Sandler raised their target price on Baker Hughes from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen lowered Baker Hughes from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. UBS Group raised their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Nineteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $67.27.
Read Our Latest Analysis on BKR
Baker Hughes Trading Up 1.0%
NASDAQ:BKR traded up $0.70 during trading hours on Monday, hitting $69.64. 1,401,535 shares of the company were exchanged, compared to its average volume of 9,632,242. The stock has a market capitalization of $68.82 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79. Baker Hughes has a one year low of $34.56 and a one year high of $70.41. The company has a fifty day simple moving average of $61.33 and a 200 day simple moving average of $53.78.
Baker Hughes (NASDAQ:BKR – Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Sell-side analysts expect that Baker Hughes will post 2.4 EPS for the current fiscal year.
Insider Transactions at Baker Hughes
In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the sale, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 590,251 shares of company stock valued at $35,311,023. 0.19% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Baker Hughes
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Baker Hughes by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after purchasing an additional 598,159 shares during the last quarter. State Street Corp boosted its stake in Baker Hughes by 1.6% during the 4th quarter. State Street Corp now owns 61,409,438 shares of the company’s stock valued at $2,796,586,000 after purchasing an additional 937,614 shares during the last quarter. Cardano Risk Management B.V. boosted its stake in Baker Hughes by 1,005.1% during the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after purchasing an additional 44,887,481 shares during the last quarter. Capital World Investors boosted its stake in Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after purchasing an additional 3,153,709 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Baker Hughes by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after purchasing an additional 204,534 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.
About Baker Hughes
Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.
The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.