Several other brokerages have also issued reports on BKR. Morgan Stanley boosted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. UBS Group lowered their price objective on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Bank of America reduced their target price on Baker Hughes from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Piper Sandler lowered their price target on shares of Baker Hughes from $45.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Finally, BMO Capital Markets increased their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $44.12.
Check Out Our Latest Report on Baker Hughes
BKR opened at $36.78 on Friday. The business has a 50 day moving average of $35.61 and a 200-day moving average of $34.35. The stock has a market capitalization of $36.71 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 0.61 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $39.05.
Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business's revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current year.
In related news, CEO Lorenzo Simonelli sold 114,286 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock worth $581,729,000 after acquiring an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Legal & General Group Plc lifted its position in Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock valued at $306,801,000 after purchasing an additional 692,859 shares during the period. American Century Companies Inc. boosted its stake in shares of Baker Hughes by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company's stock valued at $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company's stock valued at $221,405,000 after purchasing an additional 612,715 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company's stock.
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.
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