TD Cowen Raises Baker Hughes (NASDAQ:BKR) Price Target to $54.00

Baker Hughes (NASDAQ:BKR - Free Report) had its price objective boosted by TD Cowen from $52.00 to $54.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group decreased their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus dropped their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Citigroup decreased their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays dropped their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $49.50.

Baker Hughes Stock Performance

BKR traded up $0.33 during trading on Thursday, hitting $46.05. The company's stock had a trading volume of 5,858,210 shares, compared to its average volume of 8,074,655. The firm has a market cap of $45.62 billion, a PE ratio of 15.05, a P/E/G ratio of 5.78 and a beta of 0.91. Baker Hughes has a one year low of $32.25 and a one year high of $49.40. The business's 50 day simple moving average is $38.89 and its 200-day simple moving average is $40.95. The company has a quick ratio of 0.93, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%. The firm's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. As a group, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Tuesday, August 5th. Baker Hughes's payout ratio is presently 30.07%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer owned 667,593 shares in the company, valued at approximately $29,654,481.06. This represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Baker Hughes

Hedge funds have recently bought and sold shares of the company. Prosperity Consulting Group LLC grew its stake in shares of Baker Hughes by 2.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock worth $463,000 after buying an additional 278 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company's stock valued at $834,000 after purchasing an additional 292 shares in the last quarter. Greenleaf Trust increased its holdings in shares of Baker Hughes by 2.2% in the 1st quarter. Greenleaf Trust now owns 13,852 shares of the company's stock valued at $609,000 after acquiring an additional 293 shares during the period. Moody National Bank Trust Division raised its stake in shares of Baker Hughes by 5.9% during the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company's stock worth $205,000 after acquiring an additional 296 shares in the last quarter. Finally, City Center Advisors LLC grew its stake in Baker Hughes by 3.6% during the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company's stock worth $325,000 after buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

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.