Barclays Issues Pessimistic Forecast for Baker Hughes (NASDAQ:BKR) Stock Price

Baker Hughes (NASDAQ:BKR) had its target price lowered by Barclays from $54.00 to $48.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on BKR. Stifel Nicolaus dropped their price objective on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group boosted their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. The Goldman Sachs Group raised their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup reduced their price target on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $49.11.

Baker Hughes Trading Up 1.4 %

Shares of NASDAQ:BKR opened at $36.38 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market capitalization of $36.02 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.00 and a beta of 1.08. The business’s 50-day moving average is $41.60 and its 200 day moving average is $42.05. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

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

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Trading of Baker Hughes

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morse Asset Management Inc purchased a new stake in Baker Hughes during the 3rd quarter worth approximately $1,263,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Baker Hughes during the third quarter worth approximately $139,000. Birmingham Capital Management Co. Inc. AL raised its stake in Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after purchasing an additional 2,500 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Baker Hughes by 4.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Baker Hughes by 41.1% during the 4th quarter. GAMMA Investing LLC now owns 10,286 shares of the company’s stock worth $422,000 after purchasing an additional 2,998 shares during the last quarter. 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.