Baker Hughes (NASDAQ:BKR) Price Target Cut to $49.00 by Analysts at TD Cowen

Baker Hughes (NASDAQ:BKR) had its price objective reduced by TD Cowen from $50.00 to $49.00 in a report released on Thursday, Marketbeat reports. They currently have a buy rating on the stock.

BKR has been the subject of a number of other reports. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays reduced their price objective on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Evercore ISI lifted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $36.38 on Thursday. The business has a fifty day moving average price of $41.60 and a 200-day moving average price of $42.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company has a market capitalization of $36.02 billion, a PE ratio of 12.21, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently modified their holdings of the company. Dynasty Wealth Management LLC increased its stake in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after buying an additional 207 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after purchasing an additional 267 shares during the period. Cromwell Holdings LLC raised its stake in Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after purchasing an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after purchasing an additional 295 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

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.