UBS Group Trims Baker Hughes (NASDAQ:BKR) Target Price to $40.00

Baker Hughes (NASDAQ:BKR) had its price objective lowered by UBS Group from $42.00 to $40.00 in a research report report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Benchmark reissued a buy rating and set a $40.00 price target on shares of Baker Hughes in a research report on Friday, July 26th. Morgan Stanley decreased their target price on shares of Baker Hughes from $43.00 to $42.00 and set an overweight rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on Baker Hughes from $35.00 to $40.00 and gave the company an equal weight rating in a report on Monday, July 29th. Finally, Evercore ISI raised their target price on Baker Hughes from $42.00 to $46.00 and gave the stock an outperform rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Baker Hughes has a consensus rating of Moderate Buy and an average target price of $43.19.

Baker Hughes Price Performance

Shares of BKR opened at $36.04 on Wednesday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $39.05. The company has a 50 day moving average of $35.19 and a two-hundred day moving average of $33.66. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 0.54 and a beta of 1.38.

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

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders 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 annualized dividend and a dividend yield of 2.33%. Baker Hughes’s dividend payout ratio (DPR) is 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 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 sale, the chief executive officer now owns 502,053 shares in the company, valued at $17,571,855. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management lifted its stake in Baker Hughes by 256.7% in the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after acquiring an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the 1st quarter valued at $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd purchased a new stake in shares of Baker Hughes during the 2nd quarter worth $42,000. Finally, Headlands Technologies LLC acquired a new position in shares of Baker Hughes during the second quarter worth $48,000. 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.