Baker Hughes (NASDAQ:BKR) Price Target Cut to $52.00 by Analysts at Stifel Nicolaus

Baker Hughes (NASDAQ:BKR) had its price objective decreased by Stifel Nicolaus from $54.00 to $52.00 in a research report released on Tuesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts also recently issued reports on BKR. Susquehanna dropped their price target on shares of Baker Hughes from $55.00 to $48.00 and set a “positive” rating on the stock in a report on Monday. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Piper Sandler boosted their target price 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. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.65.

Baker Hughes Trading Up 0.9 %

Shares of NASDAQ BKR opened at $38.16 on Tuesday. The company has a market cap of $37.78 billion, a PE ratio of 12.81, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm’s 50 day moving average price is $42.83 and its 200-day moving average price is $42.06. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, equities research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Baker Hughes

Institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC grew its stake in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes during the fourth quarter valued at about $30,000. Larson Financial Group LLC increased its holdings in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes in the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management bought a new position in Baker Hughes during the fourth quarter valued at approximately $47,000. 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.