Stifel Nicolaus Issues Pessimistic Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its target price decreased by equities researchers at Stifel Nicolaus from $54.00 to $52.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 35.74% from the company’s previous close.

A number of other analysts have also recently commented on BKR. Susquehanna cut their price target on shares of Baker Hughes from $55.00 to $48.00 and set a “positive” rating on the stock in a research report on Monday. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Barclays lowered their target price on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Bank of America raised their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.65.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded up $0.50 during midday trading on Tuesday, hitting $38.31. 1,129,106 shares of the company traded hands, compared to its average volume of 6,862,596. The firm’s fifty day moving average price is $43.01 and its 200-day moving average price is $42.08. The stock has a market cap of $37.93 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

Institutional Trading of Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC raised its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes in the fourth quarter valued at $30,000. Larson Financial Group LLC raised its stake in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares during the period. Kestra Investment Management LLC purchased a new stake in Baker Hughes during the 4th quarter worth about $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes during the 4th quarter worth about $47,000. 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.