Susquehanna Raises Baker Hughes (NASDAQ:BKR) Price Target to $80.00

Key Points

• Susquehanna raised its price target on Baker Hughes to $80 (from $70) and maintained a "positive" rating, implying roughly a 14.87% upside from the prior close.
• Consensus among analysts is a "Moderate Buy" (19 Buys, 2 Holds) with a consensus price target of $67.27, although individual targets vary widely (up to $85 from HSBC).
• Baker Hughes recently beat EPS estimates ($0.58 vs. $0.49) while slightly missing revenue, and insiders have sold about 590,251 shares in the past 90 days amid roughly 92% institutional ownership.

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target upped by analysts at Susquehanna from $70.00 to $80.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a "positive" rating on the stock. Susquehanna's target price points to a potential upside of 14.87% from the stock's previous close.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Baker Hughes from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Monday. UBS Group boosted their price objective on shares of Baker Hughes from $69.00 to $73.00 and gave the company a "neutral" rating in a research report on Monday. Capital One Financial raised their target price on Baker Hughes from $60.00 to $66.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Finally, HSBC raised their target price on Baker Hughes from $67.00 to $85.00 and gave the company a "buy" rating in a report on Monday. Nineteen investment 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.27.

Baker Hughes Stock Up 1.0%

Shares of NASDAQ:BKR traded up $0.70 during trading on Monday, hitting $69.64. 1,401,535 shares of the company were exchanged, compared to its average volume of 9,632,242. The stock has a market cap of $68.82 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 2.34 and a beta of 0.90. Baker Hughes has a fifty-two week low of $34.56 and a fifty-two week high of $70.41. The firm has a fifty day moving average price of $61.33 and a two-hundred day moving average price of $53.78. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

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

Insiders Place Their Bets

In other news, insider Maria Georgia Magno sold 5,063 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 590,251 shares of company stock worth $35,311,023. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its stake in shares of Baker Hughes by 10.5% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,884 shares of the company's stock valued at $86,000 after acquiring an additional 179 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of Baker Hughes by 3.2% in the 4th quarter. Krilogy Financial LLC now owns 5,722 shares of the company's stock valued at $261,000 after acquiring an additional 180 shares during the last quarter. 3Chopt Investment Partners LLC lifted its stake in shares of Baker Hughes by 0.5% in the 4th quarter. 3Chopt Investment Partners LLC now owns 42,679 shares of the company's stock valued at $1,944,000 after acquiring an additional 203 shares during the last quarter. Evolve Private Wealth LLC lifted its stake in shares of Baker Hughes by 2.4% in the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company's stock valued at $529,000 after acquiring an additional 203 shares during the last quarter. Finally, Formidable Asset Management LLC lifted its stake in shares of Baker Hughes by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 7,341 shares of the company's stock valued at $358,000 after acquiring an additional 225 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

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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