Barclays Cuts Baker Hughes (NASDAQ:BKR) Price Target to $54.00

Baker Hughes (NASDAQ:BKR) had its price target decreased by Barclays from $55.00 to $54.00 in a report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also commented on BKR. Jefferies Financial Group upped their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.92 on Monday. The company has a market cap of $44.48 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.00 and a beta of 1.30. The business has a 50 day moving average price of $44.69 and a 200 day moving average price of $41.97. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40.

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

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.05%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value 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. The trade was 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 hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Baker Hughes during the fourth quarter worth about $640,000. Burney Co. grew its stake in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after acquiring an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $1,180,000. Artemis Investment Management LLP lifted its position in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after purchasing an additional 239,773 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after purchasing an additional 12,178 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

About Baker Hughes

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.