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

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

Several other equities research analysts have also recently commented on the stock. Susquehanna boosted their price target on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a positive rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Baker Hughes from $42.00 to $43.00 and gave the company an overweight rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on Baker Hughes from $35.00 to $40.00 and gave the company an equal weight rating in a research note on Monday, July 29th. Evercore ISI lifted their price objective on shares of Baker Hughes from $42.00 to $46.00 and gave the company an outperform rating in a research note on Monday, July 29th. Finally, Stifel Nicolaus boosted their target price on Baker Hughes from $40.00 to $45.00 and gave the stock a buy rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $43.19.

Baker Hughes Trading Down 0.2 %

NASDAQ:BKR opened at $34.67 on Monday. The firm has a market capitalization of $34.60 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38. The business’s 50-day moving average is $35.12 and its two-hundred day moving average is $33.59. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86.

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

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.42%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Several institutional investors and hedge funds have recently modified their holdings of BKR. Private Advisor Group LLC lifted its stake in shares of Baker Hughes by 7.8% in the 4th quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock valued at $406,000 after purchasing an additional 865 shares during the period. SCP Investment LP grew its position in shares of Baker Hughes by 31.3% during the 4th quarter. SCP Investment LP now owns 16,800 shares of the company’s stock valued at $546,000 after acquiring an additional 4,000 shares during the period. Principal Securities Inc. purchased a new stake in Baker Hughes in the 4th quarter worth approximately $95,000. Norges Bank purchased a new position in Baker Hughes during the fourth quarter valued at approximately $551,555,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Baker Hughes in the 4th quarter worth approximately $592,000. Hedge funds and other institutional investors 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.