Baker Hughes (NASDAQ:BKR) PT Raised to $40.00 at HSBC

Posted by Defense World Staff on Apr 23rd, 2023

Baker Hughes (NASDAQ:BKR – Get Rating) had its target price boosted by HSBC from $39.00 to $40.00 in a research report issued on Friday, The Fly reports. HSBC’s price target indicates a potential upside of 34.86% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI increased their price objective on Baker Hughes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays increased their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna increased their price objective on Baker Hughes from $35.00 to $38.00 and gave the company a “positive” rating in a research report on Thursday. Benchmark assumed coverage on Baker Hughes in a research report on Thursday, January 19th. They set a “buy” rating and a $36.00 price objective for the company. Finally, UBS Group began coverage on Baker Hughes in a research report on Wednesday. They set a “neutral” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.63.

Baker Hughes Stock Performance

BKR opened at $29.66 on Friday. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of -269.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.32 and a quick ratio of 0.90. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $38.65. The business has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $29.03.

Baker Hughes (NASDAQ:BKR – Get Rating) last released its earnings results on Wednesday, April 19th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $5.72 billion during the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a positive return on equity of 7.13% and a negative net margin of 0.44%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. Research analysts predict that Baker Hughes will post 1.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total transaction of $303,454.23. Following the completion of the sale, the executive vice president now directly owns 59,463 shares in the company, valued at $1,839,190.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $195,343,000. Vanguard Group Inc. boosted its stake in Baker Hughes by 5.7% in the third quarter. Vanguard Group Inc. now owns 119,365,664 shares of the company’s stock valued at $2,501,905,000 after acquiring an additional 6,456,576 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in Baker Hughes by 443.0% in the third quarter. Ceredex Value Advisors LLC now owns 5,931,026 shares of the company’s stock valued at $124,314,000 after acquiring an additional 4,838,736 shares during the last quarter. BlackRock Inc. boosted its stake in Baker Hughes by 5.6% in the third quarter. BlackRock Inc. now owns 84,632,999 shares of the company’s stock valued at $1,773,908,000 after acquiring an additional 4,474,453 shares during the last quarter. Finally, Amundi boosted its stake in Baker Hughes by 41.8% in the fourth quarter. Amundi now owns 14,337,248 shares of the company’s stock valued at $442,017,000 after acquiring an additional 4,226,117 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

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Baker Hughes Co is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations.