Baker Hughes (NASDAQ:BKR – Get Free Report) had its price target raised by stock analysts at Jefferies Financial Group from $42.00 to $44.00 in a research note issued on Monday, FlyOnTheWall reports. Jefferies Financial Group’s price target suggests a potential upside of 27.31% from the company’s current price.
A number of other equities research analysts have also weighed in on BKR. Capital One Financial initiated coverage on Baker Hughes in a research report on Wednesday, June 7th. They set an “overweight” rating and a $38.00 price objective on the stock. Susquehanna increased their target price on Baker Hughes from $38.00 to $42.00 and gave the company a “positive” rating in a research report on Thursday, July 20th. Piper Sandler increased their target price on Baker Hughes from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, September 11th. Stifel Nicolaus increased their target price on Baker Hughes from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Finally, Bank of America increased their target price on Baker Hughes from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.94.
View Our Latest Stock Analysis on Baker Hughes
Baker Hughes Stock Performance
Baker Hughes (NASDAQ:BKR – Get Free Report) last posted its earnings results on Wednesday, July 19th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Baker Hughes had a net margin of 4.94% and a return on equity of 9.01%. Baker Hughes’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. As a group, equities analysts predict that Baker Hughes will post 1.54 EPS for the current year.
Insider Buying and Selling
In other Baker Hughes news, CEO Lorenzo Simonelli sold 122,500 shares of Baker Hughes stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $35.49, for a total value of $4,347,525.00. Following the completion of the transaction, the chief executive officer now directly owns 589,938 shares of the company’s stock, valued at $20,936,899.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Regina Jones sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $35.19, for a total transaction of $351,900.00. Following the completion of the transaction, the insider now directly owns 62,873 shares of the company’s stock, valued at $2,212,500.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lorenzo Simonelli sold 122,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $35.49, for a total transaction of $4,347,525.00. Following the transaction, the chief executive officer now directly owns 589,938 shares of the company’s stock, valued at $20,936,899.62. The disclosure for this sale can be found here. Insiders have sold 162,500 shares of company stock valued at $5,775,925 over the last quarter. Corporate insiders own 0.24% of the company’s stock.
Institutional Trading of Baker Hughes
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Baker Hughes by 3.9% during the second quarter. BlackRock Inc. now owns 94,764,470 shares of the company’s stock valued at $2,995,505,000 after buying an additional 3,521,762 shares during the last quarter. State Street Corp increased its holdings in Baker Hughes by 0.5% during the first quarter. State Street Corp now owns 67,473,141 shares of the company’s stock valued at $1,947,274,000 after buying an additional 365,013 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Baker Hughes by 2.9% during the second quarter. JPMorgan Chase & Co. now owns 52,639,400 shares of the company’s stock valued at $1,663,931,000 after buying an additional 1,471,792 shares during the last quarter. Dodge & Cox increased its holdings in Baker Hughes by 9.9% during the first quarter. Dodge & Cox now owns 34,072,354 shares of the company’s stock valued at $983,328,000 after buying an additional 3,065,517 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Baker Hughes by 3.9% during the second quarter. Geode Capital Management LLC now owns 22,218,274 shares of the company’s stock valued at $700,540,000 after buying an additional 827,240 shares during the last quarter. 92.22% of the stock is owned by hedge funds and other institutional investors.
Baker Hughes Company Profile
Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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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