Baker Hughes (NYSE:BKR) Price Target Cut to $41.00

Baker Hughes (NYSE:BKRGet Rating) had its price objective dropped by stock analysts at Susquehanna from $42.00 to $41.00 in a report released on Thursday, The Fly reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 27.33% from the stock’s current price.

Several other analysts have also issued reports on the stock. Stifel Nicolaus increased their price target on shares of Baker Hughes from $34.00 to $41.00 in a research report on Friday, April 8th. The Goldman Sachs Group lowered shares of Baker Hughes from a “conviction-buy” rating to a “buy” rating and set a $41.00 price target on the stock. in a research report on Tuesday, March 22nd. Bank of America reiterated a “buy” rating and set a $35.00 price target (up previously from $33.00) on shares of Baker Hughes in a research report on Friday, January 21st. Morgan Stanley raised their target price on shares of Baker Hughes from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, April 11th. Finally, Piper Sandler raised their target price on shares of Baker Hughes from $36.00 to $37.50 and gave the company an “overweight” rating in a research report on Friday, January 21st. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Buy” and an average price target of $35.74.

Shares of NYSE:BKR opened at $32.20 on Thursday. The company’s 50 day moving average price is $34.30 and its two-hundred day moving average price is $28.50. Baker Hughes has a 12-month low of $19.23 and a 12-month high of $39.78. The firm has a market cap of $33.08 billion, a PE ratio of -89.44 and a beta of 1.52. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 0.40.

Baker Hughes (NYSE:BKRGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.01 billion. Baker Hughes had a positive return on equity of 3.14% and a negative net margin of 1.06%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. On average, research analysts expect that Baker Hughes will post 1.27 EPS for the current year.

In related news, major shareholder Electric Co General sold 50,097,840 shares of Baker Hughes stock in a transaction on Friday, February 4th. The shares were sold at an average price of $25.98, for a total transaction of $1,301,541,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Maria C. Borras sold 19,632 shares of Baker Hughes stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $33.94, for a total transaction of $666,310.08. The disclosure for this sale can be found here. Insiders have sold 50,226,387 shares of company stock valued at $1,305,169,753 in the last ninety days. Insiders own 0.34% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Duncker Streett & Co. Inc. bought a new position in Baker Hughes during the third quarter worth $25,000. Benjamin Edwards Inc. raised its stake in Baker Hughes by 180.7% during the fourth quarter. Benjamin Edwards Inc. now owns 1,075 shares of the company’s stock worth $26,000 after buying an additional 692 shares during the last quarter. Riverview Trust Co acquired a new stake in Baker Hughes in the first quarter worth $27,000. Allworth Financial LP grew its holdings in Baker Hughes by 108.8% in the fourth quarter. Allworth Financial LP now owns 1,209 shares of the company’s stock worth $29,000 after purchasing an additional 630 shares during the period. Finally, NEXT Financial Group Inc grew its holdings in Baker Hughes by 147.3% in the fourth quarter. NEXT Financial Group Inc now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 704 shares during the period. 87.64% of the stock is owned by institutional investors and hedge funds.

About Baker Hughes (Get Rating)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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