Baker Hughes (NASDAQ:BKR) Price Target Lowered to $51.00 at TD Cowen

Baker Hughes (NASDAQ:BKR) had its price target reduced by TD Cowen from $53.00 to $51.00 in a research report sent to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other brokerages have also commented on BKR. Wells Fargo & Company increased their price target on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Stifel Nicolaus boosted their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. UBS Group decreased their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.18.

Baker Hughes Trading Up 0.1 %

Shares of BKR opened at $43.44 on Wednesday. The firm has a market cap of $42.99 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a 50 day simple moving average of $42.06 and a two-hundred day simple moving average of $37.85.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $0.42 earnings per share. On average, equities analysts expect that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Baker Hughes’s payout ratio is 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKR. Geode Capital Management LLC lifted its stake in Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the period. Institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.