Baker Hughes (NASDAQ:BKR) Given New $52.00 Price Target at Susquehanna

Baker Hughes (NASDAQ:BKR - Free Report) had its price objective hoisted by Susquehanna from $46.00 to $52.00 in a research report released on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other research analysts also recently commented on the company. Barclays lifted their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group decreased their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Piper Sandler decreased their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. TD Securities decreased their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI decreased their target price on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus target price of $49.50.

Baker Hughes Stock Up 0.7%

Shares of NASDAQ:BKR traded up $0.33 during mid-day trading on Thursday, reaching $46.05. 5,858,210 shares of the stock were exchanged, compared to its average volume of 8,074,655. The company has a quick ratio of 0.93, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $45.62 billion, a P/E ratio of 15.05, a P/E/G ratio of 5.78 and a beta of 0.91. Baker Hughes has a one year low of $32.25 and a one year high of $49.40. The stock's 50 day simple moving average is $38.89 and its 200-day simple moving average is $40.95.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The business's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.00%. Baker Hughes's payout ratio is 30.07%.

Insider Buying and Selling at Baker Hughes

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the sale, the chief executive officer directly owned 667,593 shares in the company, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the business. Wayfinding Financial LLC acquired a new position in Baker Hughes in the 1st quarter worth about $28,000. N.E.W. Advisory Services LLC acquired a new position in Baker Hughes in the 1st quarter worth about $30,000. Golden State Wealth Management LLC increased its holdings in Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock worth $30,000 after purchasing an additional 604 shares in the last quarter. Grove Bank & Trust increased its holdings in Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock worth $33,000 after purchasing an additional 320 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Baker Hughes by 132.9% in the first quarter. Spire Wealth Management now owns 815 shares of the company's stock valued at $36,000 after buying an additional 465 shares during the period. 92.06% of the stock is currently owned by institutional investors.

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.