Baker Hughes (NASDAQ:BKR) Given New $69.00 Price Target at UBS Group

Baker Hughes (NASDAQ:BKR) had its price target dropped by equities research analysts at UBS Group from $72.00 to $69.00 in a note issued to investors on Wednesday. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 23.39% from the stock’s current price.

A number of other analysts also recently commented on BKR. Zacks Research upgraded Baker Hughes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Stifel Nicolaus upped their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reduced their target price on Baker Hughes from $80.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of Baker Hughes in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $71.41.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $55.92 on Wednesday. The firm’s 50-day moving average is $60.81 and its 200-day moving average is $61.13. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 2.09. Baker Hughes has a 52-week low of $43.92 and a 52-week high of $70.41.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes will post 2.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC lifted its stake in shares of Baker Hughes by 0.6% in the 1st quarter. Bleakley Financial Group LLC now owns 25,485 shares of the company’s stock valued at $1,556,000 after purchasing an additional 163 shares during the period. Resolute Wealth Strategies LLC boosted its stake in Baker Hughes by 2.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 6,597 shares of the company’s stock worth $403,000 after acquiring an additional 172 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings 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 buying an additional 179 shares during the period. Evolve Private Wealth LLC raised its stake in Baker Hughes by 2.4% during the 1st quarter. Evolve Private Wealth LLC now owns 8,663 shares of the company’s stock worth $529,000 after buying an additional 203 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Baker Hughes by 49.0% during the first quarter. Meeder Asset Management Inc. now owns 651 shares of the company’s stock worth $40,000 after acquiring an additional 214 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

About Baker Hughes

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.