Baker Hughes A GE (BHGE) Price Target Cut to $33.00

Baker Hughes A GE (NYSE:BHGE) had its price objective lowered by Credit Suisse Group from $36.00 to $33.00 in a research report report published on Wednesday morning. Credit Suisse Group currently has a neutral rating on the stock.

BHGE has been the topic of several other research reports. B. Riley reaffirmed a buy rating on shares of Baker Hughes A GE in a research report on Monday, September 10th. Bank of America assumed coverage on Baker Hughes A GE in a report on Wednesday, October 17th. They set a buy rating for the company. Guggenheim upgraded Baker Hughes A GE from a neutral rating to a buy rating and set a $37.00 price objective for the company in a report on Wednesday. Wells Fargo & Co decreased their price objective on Baker Hughes A GE from $45.00 to $43.00 and set an outperform rating for the company in a report on Wednesday. Finally, Zacks Investment Research lowered Baker Hughes A GE from a hold rating to a sell rating in a report on Tuesday, July 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $36.79.

NYSE BHGE traded up $0.18 during midday trading on Wednesday, hitting $26.07. 5,121,766 shares of the company traded hands, compared to its average volume of 3,876,178. The company has a current ratio of 1.91, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $10.75 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 4.95 and a beta of 0.84. Baker Hughes A GE has a 52 week low of $25.53 and a 52 week high of $37.76.

Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.88 billion. Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. On average, equities analysts predict that Baker Hughes A GE will post 0.65 earnings per share for the current fiscal year.

In related news, insider Matthias L. Heilmann sold 12,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the completion of the transaction, the insider now owns 3,743 shares in the company, valued at approximately $127,262. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt Camilleri sold 2,513 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $85,442.00. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds have recently modified their holdings of BHGE. Millennium Management LLC raised its stake in Baker Hughes A GE by 521.2% in the 2nd quarter. Millennium Management LLC now owns 4,112,049 shares of the company’s stock worth $135,821,000 after acquiring an additional 3,450,049 shares during the last quarter. Indus Capital Partners LLC purchased a new position in Baker Hughes A GE in the 2nd quarter worth $28,695,000. Jane Street Group LLC raised its stake in Baker Hughes A GE by 949.2% in the 2nd quarter. Jane Street Group LLC now owns 621,120 shares of the company’s stock worth $20,516,000 after acquiring an additional 561,923 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Baker Hughes A GE by 434.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 672,970 shares of the company’s stock worth $22,766,000 after acquiring an additional 547,042 shares during the last quarter. Finally, TCW Group Inc. raised its stake in Baker Hughes A GE by 13.5% in the 2nd quarter. TCW Group Inc. now owns 4,409,766 shares of the company’s stock worth $145,654,000 after acquiring an additional 523,729 shares during the last quarter. Institutional investors own 93.77% of the company’s stock.

Baker Hughes A GE Company Profile

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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Analyst Recommendations for Baker Hughes A GE (NYSE:BHGE)

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