Several other equities analysts have also weighed in on the stock. Barclays reaffirmed a “buy” rating and set a $28.00 target price on shares of Baker Hughes in a report on Friday, November 1st. Susquehanna Bancshares raised shares of Baker Hughes from a “neutral” rating to a “positive” rating in a report on Friday, November 15th. Zacks Investment Research lowered shares of Baker Hughes from a “hold” rating to a “strong sell” rating in a report on Friday, November 8th. Cowen reissued a “buy” rating and issued a $34.00 price target on shares of Baker Hughes in a research note on Monday, December 16th. Finally, Deutsche Bank began coverage on shares of Baker Hughes in a research note on Wednesday, November 27th. They issued a “buy” rating and a $32.00 price target on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.71.
BKR traded down $0.70 during trading on Wednesday, reaching $23.32. 4,815,300 shares of the company’s stock were exchanged, compared to its average volume of 4,844,530. Baker Hughes has a 1 year low of $20.43 and a 1 year high of $28.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.58 and a quick ratio of 1.07. The stock has a market capitalization of $25.54 billion, a PE ratio of 35.33, a P/E/G ratio of 2.50 and a beta of 1.01. The stock has a fifty day moving average of $24.13.
Baker Hughes (NYSE:BKR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Baker Hughes had a return on equity of 1.19% and a net margin of 0.89%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, analysts predict that Baker Hughes will post 0.88 earnings per share for the current fiscal year.
In other news, insider William D. Marsh sold 5,857 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.65, for a total transaction of $132,661.05. Following the transaction, the insider now owns 33,647 shares of the company’s stock, valued at approximately $762,104.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William D. Marsh sold 6,136 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.15, for a total transaction of $135,912.40. Following the transaction, the insider now directly owns 39,504 shares in the company, valued at approximately $875,013.60. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Baker Hughes in the 3rd quarter valued at about $432,000. Worldquant Millennium Advisors LLC purchased a new stake in Baker Hughes in the 3rd quarter valued at about $3,731,000. Penserra Capital Management LLC purchased a new stake in Baker Hughes in the 3rd quarter valued at about $148,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Baker Hughes in the 3rd quarter valued at about $12,597,000. Finally, Cleararc Capital Inc. purchased a new stake in Baker Hughes in the 3rd quarter valued at about $227,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.
About Baker Hughes
Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.
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