Baker Hughes (NASDAQ:BKR) Price Target Raised to $53.00

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target hoisted by analysts at Barclays from $48.00 to $53.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 15.92% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus lowered their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Royal Bank Of Canada lowered their price objective on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Morgan Stanley lowered their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Citigroup lowered their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and a consensus target price of $49.50.

Baker Hughes Stock Up 2.3%

BKR traded up $1.04 on Thursday, hitting $45.72. 12,108,306 shares of the company were exchanged, compared to its average volume of 7,987,450. Baker Hughes has a twelve month low of $32.25 and a twelve month high of $49.40. The company has a market cap of $45.30 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 5.60 and a beta of 0.91. The company has a current ratio of 1.41, a quick ratio of 0.93 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $38.72 and a two-hundred day moving average price of $40.95.

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

Institutional Trading of Baker Hughes

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Baker Hughes by 0.8% during the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock worth $5,367,096,000 after purchasing an additional 924,501 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Baker Hughes by 0.6% in the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock valued at $1,135,744,000 after buying an additional 177,232 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock valued at $1,004,212,000 after buying an additional 465,832 shares during the period. Norges Bank purchased a new position in Baker Hughes in the 4th quarter valued at approximately $829,092,000. Finally, FMR LLC increased its stake in Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Company Profile

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.