TD Cowen Cuts Baker Hughes (NASDAQ:BKR) Price Target to $49.00

Baker Hughes (NASDAQ:BKR) had its price objective decreased by equities researchers at TD Cowen from $50.00 to $49.00 in a report issued on Thursday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 36.32% from the company’s previous close.

Several other analysts also recently commented on BKR. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Susquehanna cut their price objective on Baker Hughes from $55.00 to $48.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Barclays lowered their target price on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Evercore ISI increased their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.53.

Baker Hughes Trading Down 6.3 %

NASDAQ:BKR opened at $35.94 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The firm has a market capitalization of $35.59 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 2.00 and a beta of 1.08. The business’s 50-day moving average price is $41.80 and its two-hundred day moving average price is $42.06.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $6.54 billion. On average, equities analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’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 transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Baker Hughes in the 4th quarter valued at about $640,000. Burney Co. lifted its position in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after buying an additional 105,349 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock worth $1,004,212,000 after acquiring an additional 465,832 shares during the period. Northstar Advisory Group LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $1,180,000. Finally, Artemis Investment Management LLP raised its stake in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after acquiring an additional 239,773 shares during the period. 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.