Baker Hughes (NASDAQ:BKR) Price Target Cut to $46.00 by Analysts at Royal Bank of Canada

Baker Hughes (NASDAQ:BKR) had its target price decreased by Royal Bank of Canada from $50.00 to $46.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also recently issued reports on BKR. Evercore ISI reduced their target price on shares of Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group raised their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. TD Securities reduced their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna lowered their price target on Baker Hughes from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Baker Hughes and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.11.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $36.38 on Thursday. The stock has a market cap of $36.02 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $41.60 and a 200-day simple moving average of $42.05.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) 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 business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, sell-side analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.53%. Baker Hughes’s dividend payout ratio (DPR) is presently 31.40%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds have recently modified their holdings of the stock. Tsfg LLC boosted its position in Baker Hughes by 278.8% in the 1st quarter. Tsfg LLC now owns 1,485 shares of the company’s stock valued at $65,000 after buying an additional 1,093 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Baker Hughes by 10.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,109,441 shares of the company’s stock valued at $273,703,000 after acquiring an additional 568,365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Baker Hughes by 18.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 367,726 shares of the company’s stock worth $16,162,000 after purchasing an additional 56,033 shares during the period. Achmea Investment Management B.V. raised its holdings in Baker Hughes by 44.6% during the 1st quarter. Achmea Investment Management B.V. now owns 505,472 shares of the company’s stock worth $22,215,000 after purchasing an additional 156,014 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Baker Hughes by 26.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 15,103 shares of the company’s stock valued at $664,000 after purchasing an additional 3,199 shares during the period. 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.