The Goldman Sachs Group Cuts Baker Hughes (NASDAQ:BKR) Price Target to $41.00

Baker Hughes (NASDAQ:BKR) had its price objective trimmed by The Goldman Sachs Group from $42.00 to $41.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. TD Securities reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Piper Sandler reduced their price objective on Baker Hughes from $53.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on Baker Hughes from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna reduced their price objective on Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Baker Hughes Trading Down 0.5%

Shares of NASDAQ BKR opened at $39.62 on Wednesday. Baker Hughes has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a market cap of $39.25 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 4.27 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $37.70 and a 200-day simple moving average of $41.00.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes’s dividend payout ratio is 31.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC increased its holdings in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after acquiring an additional 267 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of Baker Hughes by 2.7% during the 1st quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company’s stock valued at $463,000 after acquiring an additional 278 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Baker Hughes by 2.2% during 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 last quarter. Finally, City Center Advisors LLC increased its holdings in shares of Baker Hughes by 3.6% during the 2nd quarter. City Center Advisors LLC now owns 8,486 shares of the company’s stock valued at $325,000 after acquiring an additional 298 shares during the last quarter. Institutional investors and hedge funds 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.