Baker Hughes Company (NASDAQ:BKR) Stock Has Consensus Price Target of $70.27

Key Points

• Analyst sentiment is moderately bullish: 22 analysts give Baker Hughes a consensus “Moderate Buy” rating, with an average 12-month price target of $70.27. Recent target changes were mixed.
• Quarterly results beat expectations: Baker Hughes reported adjusted earnings of $0.70 per share versus $0.61 expected and revenue of $8.03 billion, up 14.5% year over year.
• The company declared a quarterly dividend of $0.23 per share, equivalent to an annualized yield of about 1.9%; a director also purchased 10,000 shares.

Shares of Baker Hughes Company (NASDAQ:BKR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are presently covering the company, Marketbeat Ratings reports. Five investment 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. The average 12 month target price among brokers that have issued a report on the stock in the last year is $70.27.

A number of analysts recently issued reports on the company. Citigroup cut their price objective on Baker Hughes from $75.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, October 19th. UBS Group decreased their price objective on shares of Baker Hughes from $72.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Freedom Broker raised shares of Baker Hughes from a "sell" rating to a "hold" rating and increased their price objective for the stock from $51.00 to $52.00 in a research report on Friday, October 30th. The Goldman Sachs Group began coverage on shares of Baker Hughes in a report on Tuesday, September 29th. They issued a "buy" rating and a $71.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on Baker Hughes from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th.

Baker Hughes Trading Up 3.4%

Shares of Baker Hughes stock opened at $49.41 on Thursday. The stock has a 50 day moving average of $56.04 and a 200 day moving average of $59.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.90 and a current ratio of 1.24. The firm has a market capitalization of $49.07 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.28 and a beta of 1.07. Baker Hughes has a fifty-two week low of $44.26 and a fifty-two week high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. Baker Hughes had a return on equity of 13.55% and a net margin of 10.08%. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts predict that Baker Hughes will post 2.56 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 10th. Baker Hughes's dividend payout ratio (DPR) is currently 31.72%.

Insider Buying and Selling at Baker Hughes

In other news, Director John Rice acquired 10,000 shares of the company's stock in a transaction dated Tuesday, November 3rd. The stock was acquired at an average cost of $53.10 per share, with a total value of $531,000.00. Following the completion of the purchase, the director owned 77,315 shares of the company's stock, valued at $4,105,426.50. This represents a 14.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC boosted its stake in shares of Baker Hughes by 152.3% in the second quarter. NewEdge Advisors LLC now owns 149,817 shares of the company's stock valued at $8,315,000 after purchasing an additional 90,427 shares during the period. National Pension Service grew its holdings in shares of Baker Hughes by 29.0% in the second quarter. National Pension Service now owns 1,867,731 shares of the company's stock valued at $103,659,000 after purchasing an additional 419,426 shares in the last quarter. Allworth Financial LP increased its stake in Baker Hughes by 19.5% during the 2nd quarter. Allworth Financial LP now owns 231,538 shares of the company's stock worth $12,850,000 after buying an additional 37,814 shares during the period. Fifth Third Bancorp increased its stake in Baker Hughes by 367.1% during the 1st quarter. Fifth Third Bancorp now owns 199,621 shares of the company's stock worth $12,187,000 after buying an additional 156,881 shares during the period. Finally, CenterBook Partners LP increased its stake in Baker Hughes by 107.5% during the 3rd quarter. CenterBook Partners LP now owns 59,083 shares of the company's stock worth $3,244,000 after buying an additional 30,612 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

About Baker Hughes

Baker Hughes NASDAQ: BKR is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.

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