Baker Hughes (NASDAQ:BKR) Given New $76.00 Price Target at TD Cowen

Baker Hughes (NASDAQ:BKR) had its price target reduced by TD Cowen from $78.00 to $76.00 in a report published on Tuesday. TD Cowen currently has a buy rating on the stock.

Several other analysts have also commented on the company. Royal Bank Of Canada raised their price objective on Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price objective on shares of Baker Hughes in a report on Tuesday. Piper Sandler boosted their target price on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Citigroup upped their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Barclays cut their price target on Baker Hughes from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.41.

Baker Hughes Trading Down 0.6%

Baker Hughes stock opened at $55.57 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Baker Hughes has a 12 month low of $43.92 and a 12 month high of $70.41. The stock’s 50 day simple moving average is $60.81 and its two-hundred day simple moving average is $61.13. The firm has a market cap of $55.16 billion, a PE ratio of 18.13, a P/E/G ratio of 2.54 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Baker Hughes will post 2.53 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s dividend payout ratio (DPR) is 29.68%.

Institutional Investors Weigh In On Baker Hughes

Several institutional investors and hedge funds have recently modified their holdings of the company. OP Asset Management Ltd purchased a new stake in Baker Hughes during the 1st quarter worth approximately $6,049,000. NewEdge Advisors LLC boosted its position in Baker Hughes by 152.3% in the 2nd quarter. NewEdge Advisors LLC now owns 149,817 shares of the company’s stock valued at $8,315,000 after buying an additional 90,427 shares during the period. Hsbc Holdings PLC boosted its position in Baker Hughes by 2.0% in the 4th quarter. Hsbc Holdings PLC now owns 1,892,101 shares of the company’s stock valued at $86,230,000 after buying an additional 37,473 shares during the period. ABN AMRO Bank N.V. grew its stake in shares of Baker Hughes by 6.5% in the first quarter. ABN AMRO Bank N.V. now owns 679,842 shares of the company’s stock worth $41,625,000 after acquiring an additional 41,657 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Baker Hughes by 60.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 83,059 shares of the company’s stock worth $3,783,000 after acquiring an additional 31,161 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.