Baker Hughes (NASDAQ:BKR) Given New $50.00 Price Target at Evercore ISI

Baker Hughes (NASDAQ:BKR) had its price target reduced by Evercore ISI from $52.00 to $50.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Piper Sandler upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Citigroup cut their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $49.11.

Baker Hughes Trading Up 1.4 %

BKR opened at $36.38 on Thursday. The business’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $42.05. The company has a market cap of $36.02 billion, a P/E ratio of 12.21, a PEG ratio of 2.00 and a beta of 1.08. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.54 billion. As a group, equities research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.53%. Baker Hughes’s dividend payout ratio is currently 31.40%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its stake in shares of Baker Hughes by 0.6% during the 4th quarter. Capital Research Global Investors now owns 27,687,590 shares of the company’s stock worth $1,135,744,000 after acquiring an additional 177,232 shares in the last quarter. Geode Capital Management LLC boosted its position in Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after purchasing an additional 465,832 shares in the last quarter. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter worth $829,092,000. FMR LLC increased its position in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after buying an additional 1,744,225 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company’s stock worth $473,880,000 after buying an additional 874,297 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other 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.