Baker Hughes (NASDAQ:BKR) PT Lowered to $40.00 at UBS Group

Baker Hughes (NASDAQ:BKR) had its price target decreased by equities researchers at UBS Group from $42.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 15.47% from the company’s current price.

A number of other brokerages also recently issued reports on BKR. Wells Fargo & Company increased their price objective on Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Susquehanna lifted their price target on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Piper Sandler cut their price objective on Baker Hughes from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus lifted their target price on shares of Baker Hughes from $40.00 to $45.00 and gave the company 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.19.

Baker Hughes Price Performance

BKR stock traded down $0.09 during mid-day trading on Wednesday, reaching $34.64. 187,301 shares of the company traded hands, compared to its average volume of 7,295,369. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The company has a market capitalization of $34.57 billion, a P/E ratio of 19.43, a P/E/G ratio of 0.54 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company has a fifty day moving average price of $35.11 and a 200-day moving average price of $33.59.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, analysts anticipate that Baker Hughes will post 2.24 earnings per share for the current year.

Insider Activity

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Baker Hughes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Baker Hughes by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the period. American Century Companies Inc. raised its holdings in shares of Baker Hughes by 3.1% during the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock valued at $291,005,000 after acquiring an additional 248,122 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after acquiring an additional 612,715 shares in 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.