Baker Hughes (NASDAQ:BKR) PT Lowered to $42.00 at Morgan Stanley

Baker Hughes (NASDAQ:BKR) had its target price reduced by Morgan Stanley from $43.00 to $42.00 in a report issued on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI increased their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an outperform rating in a report on Monday, July 29th. TD Cowen boosted their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the company a buy rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $35.00 to $40.00 and gave the company an equal weight rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus raised their price target on Baker Hughes from $40.00 to $45.00 and gave the stock a buy rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned 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 $43.19.

Baker Hughes Trading Up 4.9 %

BKR stock opened at $36.36 on Monday. The business’s 50-day moving average is $35.16 and its 200 day moving average is $33.61. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 0.54 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. On average, sell-side analysts anticipate that Baker Hughes will post 2.24 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.55, for a total transaction of $4,405,725.30. Following the completion of the transaction, the chief executive officer now owns 616,339 shares in the company, valued at approximately $23,759,868.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of institutional investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP increased its position in Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after purchasing an additional 219,060 shares in the last quarter. Cibc World Markets Corp increased its position in Baker Hughes by 59.4% during the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after purchasing an additional 102,174 shares during the last quarter. Caxton Associates LP purchased a new position in Baker Hughes during the fourth quarter worth approximately $13,672,000. KBC Group NV boosted its holdings in shares of Baker Hughes by 207.1% in the 4th quarter. KBC Group NV now owns 237,356 shares of the company’s stock valued at $8,113,000 after purchasing an additional 160,056 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Baker Hughes by 255.9% during the 4th quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock worth $11,369,000 after buying an additional 239,160 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.