JPMorgan Chase & Co. Boosts Baker Hughes (NASDAQ:BKR) Price Target to $60.00

Baker Hughes (NASDAQ:BKR) had its price target raised by JPMorgan Chase & Co. from $53.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 5.95% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Bank of America lifted their price target on Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Stifel Nicolaus raised their price objective on Baker Hughes from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday. Zephirin Group boosted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday. TD Cowen reiterated a “buy” rating on shares of Baker Hughes in a research note on Wednesday, January 7th. Finally, UBS Group lifted their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Twenty-one analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.21.

Baker Hughes Trading Up 0.2%

Shares of BKR opened at $56.63 on Tuesday. Baker Hughes has a 1-year low of $33.60 and a 1-year high of $57.58. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $48.96 and its 200-day moving average price is $46.91. The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.78 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Sunday, January 25th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.51%. Baker Hughes’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Activest Wealth Management increased its position in shares of Baker Hughes by 1,242.5% during the third quarter. Activest Wealth Management now owns 537 shares of the company’s stock valued at $26,000 after acquiring an additional 497 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares during the last quarter. Harbour Investments Inc. boosted its stake in Baker Hughes by 61.7% during the 2nd quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after purchasing an additional 326 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Baker Hughes in the 2nd quarter worth $36,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Baker Hughes in the second quarter worth $36,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

More Baker Hughes News

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: Q4 results beat consensus — Baker Hughes reported stronger-than-expected Q4 results (EPS and revenue ahead of estimates), which analysts cited when raising forecasts; this underpins the recent analyst upgrades. Read More.
• Positive Sentiment: Argus raised its price target to $67 (largest upside noted), signaling stronger fundamental conviction and giving BKR notable upside potential vs. the current price. Read More.
• Positive Sentiment: BMO, TD Cowen and other firms lifted targets (BMO to $65, TD Cowen to $64), adding buy/outperform views that support demand into the shares.
• Positive Sentiment: Major banks raised ratings/targets — JPMorgan to $60 (overweight), Capital One to $59 (overweight) and UBS to $61 (neutral but higher target) — broad-based analyst support reduces near-term downside risk and can attract flows from model/quant funds. Read More. Read More.
• Positive Sentiment: Independent forecasters (Zephirin Group/AmericanBankingNews) are projecting strong price appreciation, which may fuel retail interest and momentum buying. Read More.
• Neutral Sentiment: Short-interest reports show anomalous values (0 shares / NaN change and 0.0 days-to-cover) for late January — appears to be data/reporting noise rather than a meaningful change in short positioning. (No clear short squeeze signal.)
• Neutral Sentiment: Supplementary coverage and the Q4 earnings call transcript provide color on outlook/margins but contain no single new catalyst beyond the earnings beat; see transcript and fair-value discussion for detail. Read More. Read More.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.