Baker Hughes (NASDAQ:BKR) Price Target Lowered to $40.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its price objective decreased by UBS Group from $42.00 to $40.00 in a research note released on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages also recently commented on BKR. Benchmark reaffirmed a buy rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Wells Fargo & Company increased their price target on shares of Baker Hughes from $35.00 to $40.00 and gave the company an equal weight rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a buy rating in a report on Monday, July 29th. TD Cowen increased their target price on shares of Baker Hughes from $46.00 to $50.00 and gave the company a buy rating in a research note on Monday, July 29th. Finally, Evercore ISI boosted their price target on Baker Hughes from $42.00 to $46.00 and gave the company an outperform rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $43.19.

Baker Hughes Price Performance

NASDAQ BKR opened at $34.67 on Wednesday. The company has a market cap of $34.60 billion, a P/E ratio of 19.37, a P/E/G ratio of 0.54 and a beta of 1.38. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $35.12 and a 200 day simple moving average of $33.59.

Baker Hughes (NASDAQ:BKR) last released its quarterly 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. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 2.24 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.42%. The ex-dividend date was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In other 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 sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of BKR. Spire Wealth Management grew its holdings in Baker Hughes by 256.7% during the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after acquiring an additional 552 shares during the period. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes in the 1st quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes during the first quarter worth $34,000. Alta Advisers Ltd bought a new stake in Baker Hughes in the second quarter valued at about $42,000. Finally, Headlands Technologies LLC acquired a new position in Baker Hughes in the second quarter valued at about $48,000. 92.06% of the stock is 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.