Baker Hughes (NASDAQ:BKR) PT Lowered to $41.00 at Barclays

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

Other research analysts also recently issued research reports about the company. Jefferies Financial Group raised their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Morgan Stanley boosted their price objective on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. BMO Capital Markets increased their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. UBS Group cut their price target on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Citigroup decreased their price target on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, September 27th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.59.

Baker Hughes Stock Performance

NASDAQ BKR opened at $36.40 on Wednesday. The firm has a market cap of $36.33 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $35.52 and its 200-day moving average is $34.29. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.21 per share. 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 payout ratio is currently 46.93%.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently bought and sold shares of BKR. Twin Tree Management LP grew its holdings in shares of Baker Hughes by 183.0% in the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares during the last quarter. Diversified Trust Co increased its position in shares of Baker Hughes by 98.7% in the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after acquiring an additional 24,850 shares during the period. Perpetual Ltd raised its stake in shares of Baker Hughes by 440.1% during the first quarter. Perpetual Ltd now owns 64,499 shares of the company’s stock valued at $2,161,000 after acquiring an additional 52,556 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Baker Hughes by 20.5% during the second quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after purchasing an additional 123,689 shares during the period. Finally, Cardano Risk Management B.V. purchased a new stake in shares of Baker Hughes during the first quarter worth about $117,083,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Company Profile

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.