Baker Hughes, a GE company Class A (NYSE:BHGE) had its price target cut by research analysts at Bank of America from $36.00 to $35.00 in a research note issued on Thursday. The firm currently has an “underperform” rating on the stock. Bank of America’s price target would indicate a potential upside of 8.33% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada set a $44.00 price target on shares of Baker Hughes, a GE company Class A and gave the stock a “buy” rating in a research note on Saturday, October 7th. Morgan Stanley set a $53.00 price target on shares of Baker Hughes, a GE company Class A and gave the stock a “buy” rating in a research note on Monday, October 23rd. Citigroup dropped their price target on shares of Baker Hughes, a GE company Class A from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Cowen set a $50.00 price target on shares of Baker Hughes, a GE company Class A and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Barclays set a $41.00 price target on shares of Baker Hughes, a GE company Class A and gave the stock a “buy” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.60.
Baker Hughes, a GE company Class A (NYSE BHGE) traded down $1.47 during mid-day trading on Thursday, hitting $32.31. 6,457,425 shares of the company were exchanged, compared to its average volume of 5,130,000. Baker Hughes, a GE company Class A has a 52-week low of $29.62 and a 52-week high of $40.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90. The stock has a market cap of $14,460.00 and a PE ratio of -4.93.
In related news, insider William D. Marsh sold 5,000 shares of Baker Hughes, a GE company Class A stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the insider now owns 25,190 shares in the company, valued at approximately $881,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its holdings in shares of Baker Hughes, a GE company Class A by 87.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 102,324 shares of the company’s stock valued at $3,236,000 after purchasing an additional 47,675 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Baker Hughes, a GE company Class A in the 4th quarter valued at about $3,158,000. Washington Capital Management Inc. raised its holdings in shares of Baker Hughes, a GE company Class A by 33.6% in the 4th quarter. Washington Capital Management Inc. now owns 66,410 shares of the company’s stock valued at $2,101,000 after purchasing an additional 16,694 shares in the last quarter. Baldwin Brothers Inc. MA bought a new stake in shares of Baker Hughes, a GE company Class A in the 4th quarter valued at about $190,000. Finally, Canal Capital Management LLC raised its holdings in shares of Baker Hughes, a GE company Class A by 69.4% in the 4th quarter. Canal Capital Management LLC now owns 12,689 shares of the company’s stock valued at $401,000 after purchasing an additional 5,199 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.
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About Baker Hughes, a GE company Class A
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. The company offers upstream services, including evaluation, drilling, production, and completion; midstream services comprising equipment and services for LNG, and pipeline and storage; and chemical, mechanical, digital, and service solutions for refinery and petrochemical operations.
