Baker Hughes (NASDAQ:BKR) Given New $51.00 Price Target at TD Cowen

Baker Hughes (NASDAQ:BKR) had its price target cut by TD Cowen from $53.00 to $51.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on BKR. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Piper Sandler initiated coverage on shares of Baker Hughes in a report on Thursday, December 19th. They issued an “overweight” rating and a $53.00 price target for the company. Finally, UBS Group reduced their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.18.

Baker Hughes Price Performance

BKR opened at $43.26 on Wednesday. The company has a 50-day moving average of $42.28 and a 200-day moving average of $37.95. The company has a market capitalization of $42.81 billion, a P/E ratio of 19.40, a PEG ratio of 0.72 and a beta of 1.39. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. 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 (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently made changes to their positions in BKR. Hotchkis & Wiley Capital Management LLC raised its position in shares of Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares in the last quarter. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $47,296,000. Eagle Asset Management Inc. raised its holdings in shares of Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after purchasing an additional 860,219 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after purchasing an additional 817,227 shares in the last quarter. Finally, Groupama Asset Managment raised its holdings in shares of Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 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.