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Baker Hughes (NYSE:BHI) has received a “BBB+” credit rating from analysts at Morningstar. The firm’s “BBB+” rating indicates that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Baker Hughes from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $86.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Baker Hughes from $80.00 to $84.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Baker Hughes in a research note on Monday, July 21st. They now have a $77.00 price target on the stock, up previously from $74.00. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.77.

Shares of Baker Hughes (NYSE:BHI) opened at 68.32 on Wednesday. Baker Hughes has a one year low of $46.73 and a one year high of $75.64. The stock’s 50-day moving average is $70.16 and its 200-day moving average is $68.48. The company has a market cap of $29.722 billion and a P/E ratio of 24.02.

Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $4.20 earnings per share for the current fiscal year.

In other Baker Hughes news, VP Khalid M. Nouh sold 3,250 shares of the stock on the open market in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $69.99, for a total transaction of $227,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.

To view more credit ratings from Morningstar, visit www.morningstar.com.

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