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

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

Other analysts have also recently issued reports about the company. Piper Sandler cut their price objective on Baker Hughes from $45.00 to $44.00 and set an overweight rating on the stock in a research report on Monday, July 15th. Morgan Stanley cut their price objective on Baker Hughes from $43.00 to $42.00 and set an overweight rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $42.00 to $43.00 and gave the company an overweight rating in a research report on Monday, July 29th. Jefferies Financial Group lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a buy rating in a research report on Monday, July 29th. Finally, Bank of America cut their price target on Baker Hughes from $40.00 to $38.00 and set a buy rating on the stock in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of Moderate Buy and a consensus target price of $43.19.

Baker Hughes Stock Down 0.9 %

Shares of NASDAQ:BKR opened at $36.04 on Wednesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05. The company has a market cap of $35.97 billion, a PE ratio of 20.13, a P/E/G ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The stock’s 50-day moving average is $35.19 and its 200 day moving average is $33.68.

Baker Hughes (NASDAQ:BKR) last announced 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 for the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Sell-side analysts anticipate that Baker Hughes will post 2.24 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.33%. Baker Hughes’s dividend payout ratio is 46.93%.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the transaction, the chief executive officer now directly owns 616,339 shares of the company’s stock, valued at approximately $23,759,868.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

A number of institutional investors have recently bought and sold shares of BKR. Private Advisor Group LLC raised its holdings in Baker Hughes by 7.8% in the 4th quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock worth $406,000 after purchasing an additional 865 shares during the period. SCP Investment LP raised its holdings in Baker Hughes by 31.3% in the 4th quarter. SCP Investment LP now owns 16,800 shares of the company’s stock worth $546,000 after purchasing an additional 4,000 shares during the period. Principal Securities Inc. bought a new position in Baker Hughes in the 4th quarter worth $95,000. Dynamic Technology Lab Private Ltd bought a new position in Baker Hughes in the 4th quarter worth $592,000. Finally, PNC Financial Services Group Inc. raised its holdings in Baker Hughes by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 107,946 shares of the company’s stock worth $3,690,000 after purchasing an additional 525 shares during the period. 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.