BMO Capital Markets Issues Positive Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its price objective boosted by equities researchers at BMO Capital Markets from $53.00 to $55.00 in a note issued to investors on Tuesday,MarketScreener reports. BMO Capital Markets’ price target points to a potential upside of 12.36% from the company’s current price.

BKR has been the topic of a number of other research reports. Bank of America raised their target price on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Jefferies Financial Group set a $58.00 price target on Baker Hughes in a report on Wednesday, July 30th. TD Cowen upped their price objective on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. HSBC increased their target price on Baker Hughes from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Capital One Financial increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Twenty-three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.38.

Baker Hughes Stock Performance

Shares of BKR opened at $48.95 on Tuesday. The business’s fifty day moving average price is $47.37 and its 200 day moving average price is $42.64. Baker Hughes has a 12-month low of $33.60 and a 12-month high of $50.92. The stock has a market capitalization of $48.30 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Friday, November 18th. The company reported $0.16 earnings per share for the quarter. Baker Hughes had a net margin of 10.43% and a return on equity of 14.22%. The firm had revenue of $5.09 billion during the quarter. Equities research analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Insiders Place Their Bets

In other Baker Hughes news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the transaction, the executive vice president directly owned 40,520 shares of the company’s stock, valued at $2,026,000. This represents a 38.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Baker Hughes by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock worth $6,035,924,000 after buying an additional 598,159 shares during the period. Geode Capital Management LLC boosted its position in shares of Baker Hughes by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,875,670 shares of the company’s stock valued at $987,961,000 after acquiring an additional 397,984 shares during the period. Norges Bank acquired a new stake in shares of Baker Hughes in the second quarter worth $862,722,000. Artisan Partners Limited Partnership increased its position in Baker Hughes by 3.8% during the third quarter. Artisan Partners Limited Partnership now owns 17,316,358 shares of the company’s stock worth $843,653,000 after acquiring an additional 638,640 shares during the period. Finally, Invesco Ltd. raised its stake in Baker Hughes by 18.9% during the 2nd quarter. Invesco Ltd. now owns 12,834,534 shares of the company’s stock valued at $492,076,000 after purchasing an additional 2,044,402 shares during the last quarter. Institutional investors and hedge funds 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.