Baker Hughes (NASDAQ:BKR) Price Target Raised to $45.00

Baker Hughes (NASDAQ:BKR) had its price target raised by Zephirin Group from $40.00 to $45.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. HSBC lifted their target price on Baker Hughes from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Piper Sandler increased their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Baker Hughes in a research report on Wednesday, January 7th. Twenty-one investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.21.

Baker Hughes Trading Up 0.2%

Shares of BKR stock opened at $56.63 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes has a twelve month low of $33.60 and a twelve month high of $57.58. The company’s 50-day moving average price is $48.96 and its 200-day moving average price is $46.91. The stock has a market cap of $55.88 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Sunday, January 25th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. Baker Hughes’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Institutional Trading of Baker Hughes

A number of large investors have recently modified their holdings of BKR. Brandywine Global Investment Management LLC grew its stake in Baker Hughes by 8.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after purchasing an additional 49,108 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Baker Hughes in the 3rd quarter valued at about $1,920,000. Webster Bank N. A. acquired a new position in shares of Baker Hughes during the third quarter worth about $3,434,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Baker Hughes by 23.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after buying an additional 88,536 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Baker Hughes by 0.6% in the second quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after acquiring an additional 8,994 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

More Baker Hughes News

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Q4 results beat consensus — Baker Hughes reported stronger-than-expected Q4 results (EPS and revenue ahead of estimates), which analysts cited when raising forecasts; this underpins the recent analyst upgrades. Read More.
• Positive Sentiment: Argus raised its price target to $67 (largest upside noted), signaling stronger fundamental conviction and giving BKR notable upside potential vs. the current price. Read More.
• Positive Sentiment: BMO, TD Cowen and other firms lifted targets (BMO to $65, TD Cowen to $64), adding buy/outperform views that support demand into the shares.
• Positive Sentiment: Major banks raised ratings/targets — JPMorgan to $60 (overweight), Capital One to $59 (overweight) and UBS to $61 (neutral but higher target) — broad-based analyst support reduces near-term downside risk and can attract flows from model/quant funds. Read More. Read More.
• Positive Sentiment: Independent forecasters (Zephirin Group/AmericanBankingNews) are projecting strong price appreciation, which may fuel retail interest and momentum buying. Read More.
• Neutral Sentiment: Short-interest reports show anomalous values (0 shares / NaN change and 0.0 days-to-cover) for late January — appears to be data/reporting noise rather than a meaningful change in short positioning. (No clear short squeeze signal.)
• Neutral Sentiment: Supplementary coverage and the Q4 earnings call transcript provide color on outlook/margins but contain no single new catalyst beyond the earnings beat; see transcript and fair-value discussion for detail. Read More. Read More.

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.