BMO Capital Markets Boosts Baker Hughes (NASDAQ:BKR) Price Target to $80.00

Key Points

• BMO Capital Markets raised its price target on Baker Hughes to $80 (from $70) and maintained an "outperform" rating, implying about a 16.02% upside from the prior close.
• Baker Hughes reported a Q1 EPS beat ($0.58 vs. $0.49) though revenue slightly missed expectations, prompting multiple analyst upgrades and leaving a consensus rating of "Moderate Buy" with an average target near $67.73.
• Insiders sold 590,251 shares worth $35.31M over the last 90 days, while institutional investors own roughly 92% of the stock, highlighting high institutional concentration despite recent insider sales.

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target hoisted by equities research analysts at BMO Capital Markets from $70.00 to $80.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 16.02% from the stock's previous close.

Several other equities analysts have also weighed in on the stock. Johnson Rice began coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They set a "buy" rating and a $68.00 price objective for the company. Royal Bank Of Canada boosted their target price on shares of Baker Hughes from $68.00 to $71.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group increased their target price on shares of Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a research note on Monday. Zephirin Group lifted their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a "hold" rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. upped their price target on Baker Hughes from $60.00 to $74.00 and gave the company an "overweight" rating in a report on Monday. Nineteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.73.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.02 during mid-day trading on Monday, hitting $68.96. 3,324,422 shares of the stock traded hands, compared to its average volume of 9,654,495. Baker Hughes has a twelve month low of $34.56 and a twelve month high of $70.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company's 50-day simple moving average is $61.33 and its 200-day simple moving average is $53.78. The firm has a market cap of $68.15 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. As a group, equities research analysts expect that Baker Hughes will post 2.4 earnings per share for the current year.

Insider Activity

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,985 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $55.77, for a total transaction of $110,703.45. Following the sale, the chief accounting officer directly owned 12,052 shares of the company's stock, valued at $672,140.04. The trade was a 14.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William G. Beattie sold 18,023 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 590,251 shares of company stock worth $35,311,023. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Baker Hughes

Several hedge funds have recently bought and sold shares of BKR. Activest Wealth Management increased its holdings in shares of Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock valued at $26,000 after purchasing an additional 497 shares during the period. EFG International AG purchased a new stake in shares of Baker Hughes in the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Baker Hughes by 344.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 604 shares of the company's stock worth $27,000 after purchasing an additional 468 shares during the period. Quarry LP acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $31,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after purchasing an additional 337 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

More Baker Hughes News

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Q1 earnings beat and backlog growth — Baker Hughes reported better-than-expected Q1 results (EPS beat, improving margins and a growing backlog), which is the primary driver of the rally. Read More.
• Positive Sentiment: Analyst upgrades and higher price targets — Multiple analysts raised forecasts after the Q1 print, including a notable lift in sentiment that supports further upside. Read More.
• Positive Sentiment: Stifel Nicolaus increased its price target to $74 and set a 'buy' rating, citing improving momentum and the company’s operational trends. Read More.
• Positive Sentiment: Operational highlights support outlook — Management flagged strong EBITDA performance and record IET (industrial/energy technology) orders on the call, underpinning revenue quality and service demand. Read More.
• Neutral Sentiment: Energy-sector momentum — intraday coverage frames BKR’s move as part of broader energy-sector strength, which can amplify gains but also raises correlation risk with oil/services peers. Read More.
• Neutral Sentiment: Geopolitical commentary — A Baker Hughes executive said the Strait of Hormuz likely won't fully reopen for months; this could boost demand for certain services but timing/impact remain uncertain. Read More.
• Negative Sentiment: Revenue slightly missed consensus — while EPS beat, reported revenue was a touch below street expectations, a near-term negative that investors should monitor for signs of recovery or margin-driven upside. Read More.

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.

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