Baker Hughes (NASDAQ:BKR) Price Target Cut to $51.00 by Analysts 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 report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Barclays boosted their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler began coverage on shares of Baker Hughes in a research note on Thursday, December 19th. They set an “overweight” rating and a $53.00 price objective for the company. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Benchmark reiterated a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Stock Up 0.1 %

NASDAQ:BKR opened at $43.44 on Wednesday. The company’s 50-day simple moving average is $42.06 and its 200-day simple moving average is $37.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The stock has a market capitalization of $42.99 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.72 and a beta of 1.39.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. The ex-dividend date of this dividend 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%.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently bought and sold shares of BKR. First Hawaiian Bank lifted its holdings in Baker Hughes by 7.9% during the fourth quarter. First Hawaiian Bank now owns 94,163 shares of the company’s stock valued at $3,863,000 after purchasing an additional 6,891 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Baker Hughes by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 1,810,915 shares of the company’s stock worth $74,592,000 after acquiring an additional 83,266 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after acquiring an additional 2,998 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Baker Hughes by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock worth $42,580,000 after purchasing an additional 47,727 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL raised its stake in Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds 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.