Baker Hughes A GE (BHGE) PT Lowered to $33.00

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Baker Hughes A GE (NYSE:BHGE) had its price target decreased by equities research analysts at Credit Suisse Group from $36.00 to $33.00 in a report released on Wednesday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 21.91% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. HSBC cut their price target on shares of Baker Hughes A GE to $40.00 and set a “buy” rating on the stock in a report on Monday, October 8th. B. Riley set a $42.00 price target on shares of Baker Hughes A GE and gave the company a “buy” rating in a report on Sunday, October 7th. Stifel Nicolaus started coverage on shares of Baker Hughes A GE in a report on Monday, September 10th. They issued a “buy” rating and a $40.00 price target on the stock. Barclays reaffirmed a “buy” rating and issued a $37.00 price target on shares of Baker Hughes A GE in a report on Thursday, July 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. Baker Hughes A GE presently has a consensus rating of “Buy” and a consensus price target of $36.93.

BHGE traded down $0.19 during trading on Wednesday, hitting $27.07. The company had a trading volume of 355,153 shares, compared to its average volume of 3,516,043. The stock has a market capitalization of $11.26 billion, a PE ratio of 52.35, a P/E/G ratio of 4.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.90 and a quick ratio of 1.36. Baker Hughes A GE has a 1-year low of $25.53 and a 1-year high of $37.76.

Baker Hughes A GE (NYSE:BHGE) last posted its quarterly 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 during the quarter, compared to analyst estimates of $5.88 billion. Baker Hughes A GE had a negative net margin of 0.37% and a positive return on equity of 0.43%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that Baker Hughes A GE will post 0.71 earnings per share for the current fiscal year.

In other news, VP Kurt Camilleri sold 2,513 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Matthias L. Heilmann sold 12,000 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $408,000.00. Following the transaction, the insider now owns 3,743 shares of the company’s stock, valued at approximately $127,262. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. TCW Group Inc. grew its position in shares of Baker Hughes A GE by 2.4% during the third quarter. TCW Group Inc. now owns 4,515,865 shares of the company’s stock worth $152,771,000 after acquiring an additional 106,099 shares during the last quarter. Adams Natural Resources Fund Inc. grew its position in Baker Hughes A GE by 69.0% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 83,000 shares of the company’s stock valued at $2,808,000 after buying an additional 33,900 shares in the last quarter. Spectrum Asset Management Inc. NB CA bought a new position in Baker Hughes A GE in the 3rd quarter valued at about $386,000. NN Investment Partners Holdings N.V. grew its position in Baker Hughes A GE by 28.6% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 173,247 shares of the company’s stock valued at $5,861,000 after buying an additional 38,522 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Baker Hughes A GE by 6.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 304,681 shares of the company’s stock valued at $10,307,000 after buying an additional 17,927 shares in the last quarter. Institutional investors and hedge funds own 93.77% 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 for onshore and offshore operations.

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

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