Baker Hughes, a GE (NYSE:BHGE)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen in a research report issued to clients and investors on Thursday, March 15th. They presently have a $45.00 target price on the stock. Cowen’s price objective would indicate a potential upside of 52.13% from the company’s previous close.
Several other research firms have also recently issued reports on BHGE. Royal Bank of Canada set a $35.00 price objective on shares of Baker Hughes, a GE and gave the company a “buy” rating in a research report on Thursday, December 21st. B. Riley reaffirmed a “hold” rating and issued a $36.00 price target on shares of Baker Hughes, a GE in a research report on Monday, January 29th. Wells Fargo reduced their price objective on shares of Baker Hughes, a GE from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. Citigroup cut their price target on shares of Baker Hughes, a GE from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Finally, ValuEngine lowered shares of Baker Hughes, a GE from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.61.
NYSE BHGE traded down $0.13 on Thursday, reaching $29.58. The company had a trading volume of 3,700,144 shares, compared to its average volume of 5,407,637. Baker Hughes, a GE has a 12 month low of $25.53 and a 12 month high of $43.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 2.08. The company has a market cap of $12,554.91, a P/E ratio of 56.88, a P/E/G ratio of 4.71 and a beta of 0.76.
Baker Hughes, a GE (NYSE:BHGE) last posted its earnings results on Wednesday, January 24th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.60 billion. Baker Hughes, a GE had a negative net margin of 2.79% and a positive return on equity of 0.10%. Baker Hughes, a GE’s revenue for the quarter was down 2.7% on a year-over-year basis. analysts forecast that Baker Hughes, a GE will post 0.79 EPS for the current fiscal year.
In other Baker Hughes, a GE news, insider William D. Marsh sold 5,000 shares of Baker Hughes, a GE 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 directly owns 25,190 shares in the company, valued at $881,650. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. ValueAct Holdings L.P. purchased a new position in shares of Baker Hughes, a GE in the third quarter valued at approximately $1,150,154,000. Hexavest Inc. purchased a new position in shares of Baker Hughes, a GE in the fourth quarter valued at approximately $34,752,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Baker Hughes, a GE in the third quarter valued at approximately $13,183,000. Jennison Associates LLC purchased a new position in shares of Baker Hughes, a GE in the third quarter valued at approximately $13,293,000. Finally, Gabelli Funds LLC boosted its stake in shares of Baker Hughes, a GE by 27.1% in the fourth quarter. Gabelli Funds LLC now owns 576,575 shares of the company’s stock valued at $18,243,000 after purchasing an additional 123,000 shares during the period. Institutional investors and hedge funds own 92.28% of the company’s stock.
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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 for onshore and offshore operations.
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