Baker Hughes (NASDAQ:BKR) Given New $45.00 Price Target at Morgan Stanley

Baker Hughes (NASDAQ:BKR) had its price objective trimmed by Morgan Stanley from $55.00 to $45.00 in a report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the company. Citigroup lowered their price objective on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI lowered their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Susquehanna lowered their price objective on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered their price objective on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $49.11.

Baker Hughes Stock Up 0.2%

Shares of BKR stock opened at $37.79 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company’s fifty day moving average price is $39.30 and its 200-day moving average price is $42.08. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

Institutional Investors Weigh In On Baker Hughes

Large investors have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the fourth quarter worth approximately $640,000. Geode Capital Management LLC increased its stake in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the last quarter. Artemis Investment Management LLP increased its stake in Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after acquiring an additional 239,773 shares during the last quarter. Valicenti Advisory Services Inc. bought a new stake in Baker Hughes during the fourth quarter worth approximately $3,308,000. Finally, Occidental Asset Management LLC increased its stake in Baker Hughes by 32.6% during the fourth quarter. Occidental Asset Management LLC now owns 84,116 shares of the company’s stock worth $3,450,000 after acquiring an additional 20,683 shares during the last quarter. 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.