Morgan Stanley Lowers Baker Hughes (NASDAQ:BKR) Price Target to $45.00

Baker Hughes (NASDAQ:BKR) had its price objective cut by Morgan Stanley from $55.00 to $45.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

BKR has been the topic of a number of other research reports. Barclays reduced their price objective on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. TD Securities reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $49.11.

Baker Hughes Price Performance

Shares of BKR stock opened at $37.79 on Friday. The stock’s fifty day simple moving average is $39.30 and its 200 day simple moving average is $42.02. 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 cap of $37.44 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. Baker Hughes’s dividend payout ratio is presently 31.40%.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP increased its holdings in Baker Hughes by 40.8% in the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after purchasing an additional 24,225 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Baker Hughes in the first quarter valued at about $23,679,000. Dean Capital Management increased its holdings in Baker Hughes by 2.3% in the first quarter. Dean Capital Management now owns 37,889 shares of the company’s stock valued at $1,665,000 after purchasing an additional 835 shares during the last quarter. MBB Public Markets I LLC bought a new stake in Baker Hughes in the first quarter valued at about $312,000. Finally, Ascent Group LLC increased its holdings in Baker Hughes by 51.0% in the first quarter. Ascent Group LLC now owns 12,509 shares of the company’s stock valued at $550,000 after purchasing an additional 4,225 shares during the last quarter. 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.