Baker Hughes A GE (NYSE:BHGE) had its price target cut by investment analysts at Wells Fargo & Co from $31.00 to $30.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 34.59% from the company’s current price.
A number of other brokerages have also commented on BHGE. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. Jefferies Financial Group set a $32.00 price target on Baker Hughes A GE and gave the company a “buy” rating in a research note on Thursday, June 6th. Bank of America dropped their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Credit Suisse Group raised their price objective on Baker Hughes A GE from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.87.
Shares of Baker Hughes A GE stock opened at $22.29 on Thursday. The stock has a 50 day moving average of $22.90 and a 200 day moving average of $24.39. Baker Hughes A GE has a 12 month low of $20.09 and a 12 month high of $34.49. The firm has a market cap of $25.10 billion, a PE ratio of 33.77, a PEG ratio of 3.08 and a beta of 0.96. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18.
Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Baker Hughes A GE will post 0.98 earnings per share for the current fiscal year.
In other news, Director John G. Rice acquired 10,000 shares of Baker Hughes A GE stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $20.75 per share, for a total transaction of $207,500.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $311,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lorenzo Simonelli acquired 15,000 shares of Baker Hughes A GE stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $20.61 per share, for a total transaction of $309,150.00. Following the completion of the acquisition, the chief executive officer now directly owns 113,368 shares in the company, valued at $2,336,514.48. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHGE. Geode Capital Management LLC increased its holdings in Baker Hughes A GE by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after purchasing an additional 1,432,685 shares during the period. First Republic Investment Management Inc. purchased a new position in Baker Hughes A GE during the 1st quarter worth $268,000. Janus Henderson Group PLC increased its holdings in Baker Hughes A GE by 50.8% during the 1st quarter. Janus Henderson Group PLC now owns 246,190 shares of the company’s stock worth $6,825,000 after purchasing an additional 82,964 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Baker Hughes A GE by 300.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 78,866 shares of the company’s stock worth $2,188,000 after purchasing an additional 59,186 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Baker Hughes A GE by 7.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 41,147 shares of the company’s stock worth $1,141,000 after purchasing an additional 2,972 shares during the period. Institutional investors own 48.39% of the company’s stock.
About Baker Hughes A GE
Baker Hughes, a GE 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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