The Goldman Sachs Group Increases Baker Hughes (NASDAQ:BKR) Price Target to $38.00

Baker Hughes (NASDAQ:BKR) had its price objective raised by stock analysts at The Goldman Sachs Group from $36.00 to $38.00 in a note issued to investors on Tuesday. The Goldman Sachs Group’s price objective would suggest a potential upside of 15.40% from the stock’s current price.

A number of other analysts have also weighed in on BKR. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Susquehanna reissued a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a report on Monday, April 8th. Barclays lowered their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, January 26th. TD Cowen raised their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup reduced their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.47 on Tuesday, hitting $32.93. 3,638,934 shares of the company’s stock were exchanged, compared to its average volume of 8,685,756. The company has a 50 day moving average of $31.74 and a 200 day moving average of $32.56. The stock has a market cap of $32.96 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts predict that Baker Hughes will post 2.07 EPS for the current year.

Insider Activity

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Baker Hughes in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the fourth quarter worth $33,000. Montag A & Associates Inc. grew its position in shares of Baker Hughes by 100.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Baker Hughes during the 3rd quarter worth about $36,000. Finally, Rational Advisors LLC boosted its stake in Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after purchasing an additional 382 shares during the period. 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.