Baker Hughes (NASDAQ:BKR) Price Target Cut to $41.00

Baker Hughes (NASDAQ:BKR) had its price objective decreased by Barclays from $42.00 to $41.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on BKR. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Jefferies Financial Group upped their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Bank of America decreased their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.59.

Baker Hughes Stock Down 1.3 %

Shares of NASDAQ:BKR opened at $36.40 on Wednesday. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a 50 day moving average of $35.52 and a two-hundred day moving average of $34.30. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the business earned $0.39 EPS. The business’s revenue was up 12.4% on a year-over-year basis. As a group, analysts forecast that Baker Hughes will post 2.25 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the completion of the transaction, the chief executive officer now owns 502,053 shares in the company, valued at approximately $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in BKR. Price T Rowe Associates Inc. MD lifted its holdings in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the period. Dimensional Fund Advisors LP raised its position in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after acquiring an additional 680,621 shares in the last quarter. Legal & General Group Plc lifted its holdings in Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Baker Hughes by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after purchasing an additional 248,122 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Baker Hughes by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock worth $221,405,000 after purchasing an additional 612,715 shares during 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.