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

by · The Cerbat Gem

Baker Hughes (NASDAQ:BKR – Get Free Report) had its price objective upped by BMO Capital Markets from $65.00 to $70.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 7.97% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Capital One Financial increased their price target on shares of Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 27th. Stifel Nicolaus upped their price objective on Baker Hughes from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Evercore reiterated an “outperform” rating and set a $68.00 target price on shares of Baker Hughes in a research report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Baker Hughes in a report on Thursday, January 15th. Finally, Zephirin Group increased their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Twenty investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.61.

View Our Latest Stock Report on BKR

Baker Hughes Stock Down 0.7%

BKR stock opened at $64.83 on Tuesday. The company has a market cap of $64.07 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36. The business’s 50-day moving average is $54.89 and its two-hundred day moving average is $49.86. Baker Hughes has a fifty-two week low of $33.60 and a fifty-two week high of $67.00.

Baker Hughes (NASDAQ:BKR – Get Free Report) last released its quarterly earnings results on Monday, January 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Maria Georgia Magno sold 19,150 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $59.11, for a total value of $1,131,956.50. Following the completion of the sale, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. This trade represents a 56.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca L. Charlton sold 843 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total transaction of $47,494.62. Following the transaction, the chief accounting officer owned 14,019 shares in the company, valued at $789,830.46. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,001 shares of company stock worth $2,322,692 over the last three months. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cardano Risk Management B.V. grew its position in Baker Hughes by 1,005.1% in the 4th quarter. Cardano Risk Management B.V. now owns 49,353,310 shares of the company’s stock valued at $2,247,550,000 after acquiring an additional 44,887,481 shares during the last quarter. Norges Bank purchased a new stake in shares of Baker Hughes during the second quarter valued at $862,722,000. Capital International Investors bought a new position in shares of Baker Hughes in the third quarter worth about $729,670,000. Price T Rowe Associates Inc. MD increased its stake in Baker Hughes by 58.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,635,780 shares of the company’s stock worth $529,896,000 after buying an additional 4,278,573 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock valued at $158,994,000 after buying an additional 3,464,637 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

About Baker Hughes

(Get Free Report)

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.

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