Baker Hughes (NASDAQ:BKR) Given "Neutral" Rating at UBS Group

Key Points

• UBS Group has increased its target price for Baker Hughes (NASDAQ:BKR) from $43.00 to $46.00, indicating a potential upside of 0.72%, while maintaining a "neutral" rating on the stock.
• Analyst ratings for Baker Hughes are largely positive, with 18 analysts issuing "buy" ratings, contributing to an average target price of $50.50.
• Baker Hughes reported better-than-expected quarterly earnings with an EPS of $0.63, surpassing estimates of $0.55, despite a year-over-year revenue decline of 3.2%.

Baker Hughes (NASDAQ:BKR - Get Free Report)'s stock had its "neutral" rating reiterated by UBS Group in a research report issued to clients and investors on Wednesday, July 30th, Marketbeat reports. They presently have a $46.00 target price on the stock, up from their prior target price of $43.00. UBS Group's target price points to a potential upside of 4.97% from the company's previous close.

Several other research firms also recently commented on BKR. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Royal Bank Of Canada dropped their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Evercore ISI upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. TD Cowen upped their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Piper Sandler dropped their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $51.47.

Baker Hughes Stock Up 0.2%

BKR opened at $43.82 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The stock has a market cap of $43.20 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 5.38 and a beta of 0.94. Baker Hughes has a twelve month low of $32.25 and a twelve month high of $49.40. The company's 50-day moving average price is $39.98 and its two-hundred day moving average price is $40.94.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating 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 business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. Baker Hughes's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in BKR. LPL Financial LLC raised its position in Baker Hughes by 57.7% during the fourth quarter. LPL Financial LLC now owns 289,414 shares of the company's stock valued at $11,872,000 after purchasing an additional 105,878 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Baker Hughes by 14.9% during the 4th quarter. Blair William & Co. IL now owns 9,405 shares of the company's stock valued at $386,000 after buying an additional 1,223 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Baker Hughes by 326.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company's stock valued at $75,000 after buying an additional 1,396 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Baker Hughes by 11.6% during the 4th quarter. Wellington Management Group LLP now owns 455,714 shares of the company's stock valued at $18,693,000 after buying an additional 47,404 shares in the last quarter. Finally, Summit Financial LLC purchased a new position in shares of Baker Hughes during the fourth quarter worth approximately $213,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

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.