Baker Hughes (NASDAQ:BKR) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Baker Hughes (NASDAQ:BKR – Get Rating) from a neutral rating to an overweight rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have $32.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Barclays raised their target price on Baker Hughes from $38.00 to $42.00 and gave the stock an overweight rating in a research note on Wednesday, January 25th. Morgan Stanley raised their target price on Baker Hughes from $32.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, January 4th. Susquehanna raised their target price on Baker Hughes from $35.00 to $40.00 and gave the stock a positive rating in a research note on Tuesday, January 24th. HSBC raised their target price on Baker Hughes from $33.30 to $39.00 in a research note on Monday, January 30th. Finally, Evercore ISI raised their target price on Baker Hughes from $33.00 to $37.00 and gave the stock an outperform rating in a research note on Tuesday, January 24th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes has an average rating of Moderate Buy and an average target price of $36.11.

Baker Hughes Trading Down 1.4 %

Shares of BKR opened at $26.92 on Wednesday. Baker Hughes has a fifty-two week low of $20.42 and a fifty-two week high of $39.78. The firm has a market cap of $27.22 billion, a price-to-earnings ratio of -44.87 and a beta of 1.46. The firm has a 50 day moving average price of $30.91 and a 200-day moving average price of $28.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.90 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR – Get Rating) last announced its quarterly earnings data on Monday, January 23rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Baker Hughes had a negative net margin of 2.85% and a positive return on equity of 5.98%. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same period last year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Baker Hughes will post 1.57 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Monday, February 6th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, February 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently -126.67%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 9,811 shares of Baker Hughes stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $30.93, for a total value of $303,454.23. Following the completion of the sale, the executive vice president now owns 59,463 shares of the company’s stock, valued at approximately $1,839,190.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Baker Hughes by 15.8% in the third quarter. Signaturefd LLC now owns 2,517 shares of the company’s stock worth $53,000 after buying an additional 344 shares during the period. Kentucky Retirement Systems raised its stake in Baker Hughes by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 79,546 shares of the company’s stock valued at $2,349,000 after purchasing an additional 348 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Baker Hughes by 3.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock valued at $315,000 after purchasing an additional 350 shares during the period. Lazard Asset Management LLC raised its stake in Baker Hughes by 2.5% during the 3rd quarter. Lazard Asset Management LLC now owns 15,848 shares of the company’s stock valued at $332,000 after purchasing an additional 392 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Baker Hughes by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 110,238 shares of the company’s stock valued at $3,255,000 after purchasing an additional 429 shares during the period. Institutional investors own 97.40% of the company’s stock.

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.