Baker Hughes (NASDAQ:BKR - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Royal Bank of Canada in a report released on Thursday, Benzinga reports. They presently have a $43.00 target price on the stock. Royal Bank of Canada's target price points to a potential upside of 17.94% from the stock's current price.
BKR has been the topic of a number of other research reports. TD Cowen boosted their price objective on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Morgan Stanley upped their target price on Baker Hughes from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Bank of America decreased their price target on Baker Hughes from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, July 15th. Finally, BMO Capital Markets upped their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $44.00.
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Shares of Baker Hughes stock traded down $0.54 on Thursday, hitting $36.46. The company had a trading volume of 2,143,346 shares, compared to its average volume of 7,193,931. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock has a 50-day moving average of $35.61 and a 200-day moving average of $34.35. The firm has a market capitalization of $36.39 billion, a P/E ratio of 20.42, a P/E/G ratio of 0.61 and a beta of 1.38.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. Baker Hughes's revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.
In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the transaction, the chief executive officer now directly owns 502,053 shares of the company's stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in Baker Hughes during the first quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new position in shares of Baker Hughes in the 1st quarter valued at approximately $34,000. Alta Advisers Ltd acquired a new position in shares of Baker Hughes in the 2nd quarter valued at approximately $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes during the 2nd quarter worth approximately $48,000. Finally, Quarry LP boosted its position in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company's stock worth $56,000 after acquiring an additional 714 shares in the last quarter. Institutional investors 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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