Stifel Nicolaus Cuts Baker Hughes (NASDAQ:BKR) Price Target to $49.00

Baker Hughes (NASDAQ:BKR) had its price target decreased by Stifel Nicolaus from $50.00 to $49.00 in a research report report published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Citigroup dropped their price target on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. TD Cowen decreased their price target on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Barclays lowered their target price on shares of Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI reduced their price target on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.44.

Baker Hughes Price Performance

NASDAQ BKR opened at $39.72 on Wednesday. The company has a 50 day simple moving average of $38.35 and a 200-day simple moving average of $40.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The firm has a market capitalization of $39.35 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 4.90 and a beta of 0.91. Baker Hughes has a 52-week low of $32.25 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Institutional Trading of Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of BKR. Access Financial Services Inc. increased its stake in Baker Hughes by 8.3% during the 2nd quarter. Access Financial Services Inc. now owns 39,532 shares of the company’s stock worth $1,516,000 after purchasing an additional 3,019 shares in the last quarter. Truist Financial Corp grew its stake in shares of Baker Hughes by 3.9% during the 2nd quarter. Truist Financial Corp now owns 386,710 shares of the company’s stock worth $14,826,000 after acquiring an additional 14,621 shares in the last quarter. V Square Quantitative Management LLC boosted 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 buying an additional 292 shares during the last quarter. Camelot Portfolios LLC boosted its holdings in shares of Baker Hughes by 20.9% in the 2nd quarter. Camelot Portfolios LLC now owns 8,170 shares of the company’s stock valued at $313,000 after buying an additional 1,410 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Baker Hughes by 13.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 131,267 shares of the company’s stock valued at $5,031,000 after buying an additional 15,285 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

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.