TD Cowen Cuts Baker Hughes (NASDAQ:BKR) Price Target to $49.00

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target decreased by stock analysts at TD Cowen from $50.00 to $49.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 36.21% from the stock's previous close.

Several other brokerages have also weighed in on BKR. Benchmark reissued a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Jefferies Financial Group upped their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Stifel Nicolaus reduced their price objective on Baker Hughes from $54.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, Barclays reduced their price target on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Down 0.6 %

BKR stock traded down $0.24 during mid-day trading on Thursday, reaching $35.98. The company had a trading volume of 2,427,257 shares, compared to its average volume of 6,882,413. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a market capitalization of $35.62 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a 50 day simple moving average of $41.17 and a two-hundred day simple moving average of $42.09.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. As a group, equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Institutional Trading of Baker Hughes

Institutional investors and hedge funds have recently bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after acquiring an additional 386 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Baker Hughes in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes during the fourth quarter worth $30,000. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after buying an additional 216 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Baker Hughes by 678.7% in the 1st quarter. Golden State Wealth Management LLC now owns 693 shares of the company's stock valued at $30,000 after purchasing an additional 604 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.