Baker Hughes’ (BKR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Baker Hughes (NASDAQ:BKR) in a research note released on Thursday, Benzinga reports. The brokerage currently has a $43.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Citigroup reduced their target price on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 27th. Barclays upped their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. Susquehanna lifted their target price on Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets lifted their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.12.

Baker Hughes Price Performance

BKR opened at $37.52 on Thursday. Baker Hughes has a 1 year low of $28.32 and a 1 year 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 company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 0.61 and a beta of 1.38. The firm’s fifty day moving average price is $35.70 and its two-hundred day moving average price is $34.39.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results 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 net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.24%. Baker Hughes’s dividend payout ratio is currently 46.93%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the transaction, the chief executive officer now directly owns 616,339 shares in the company, valued at approximately $23,759,868.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Baker Hughes by 8.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock worth $782,000 after purchasing an additional 1,829 shares during the period. 180 Wealth Advisors LLC increased its stake in Baker Hughes by 19.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 22,083 shares of the company’s stock worth $740,000 after acquiring an additional 3,671 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Baker Hughes in the 1st quarter valued at about $5,611,000. Occidental Asset Management LLC bought a new stake in shares of Baker Hughes during the 1st quarter valued at about $1,861,000. Finally, Diversified Trust Co boosted its position in shares of Baker Hughes by 98.7% during the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after acquiring an additional 24,850 shares during the last quarter. 92.06% of the stock is currently 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. 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.