Baker Hughes (NASDAQ:BKR) Given Average Rating of "Moderate Buy" by Brokerages

Baker Hughes (NASDAQ:BKR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $40.94.

A number of analysts recently weighed in on BKR shares. Citigroup decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 26th. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. Barclays cut their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, January 26th. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd.

Baker Hughes Trading Down 2.2 %

BKR stock traded down $0.73 during trading on Wednesday, reaching $31.89. 4,940,882 shares of the stock were exchanged, compared to its average volume of 8,686,072. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $32.25 and a 200-day moving average price of $32.48. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 0.63 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm earned $0.28 EPS. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts predict that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a yield of 2.63%. Baker Hughes's dividend payout ratio is currently 46.93%.

Insider Activity

In other news, SVP James E. Apostolides sold 10,000 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The shares were 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 approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors have recently modified their holdings of BKR. Norden Group LLC bought a new stake in Baker Hughes in the 1st quarter valued at approximately $2,392,000. HB Wealth Management LLC lifted its stake in Baker Hughes by 4.2% in the 1st quarter. HB Wealth Management LLC now owns 17,296 shares of the company's stock valued at $579,000 after acquiring an additional 705 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Baker Hughes by 23.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company's stock valued at $1,027,000 after acquiring an additional 5,839 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Baker Hughes by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,161,976 shares of the company's stock worth $38,926,000 after purchasing an additional 17,745 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of Baker Hughes by 77.1% during the 1st quarter. Benjamin Edwards Inc. now owns 5,501 shares of the company's stock worth $184,000 after purchasing an additional 2,394 shares during the last quarter. 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.