Baker Hughes (NYSE:BKR) Price Target Cut to $35.00 by Analysts at Royal Bank of Canada

Baker Hughes (NYSE:BKRGet Rating) had its price target cut by Royal Bank of Canada from $36.00 to $35.00 in a report released on Tuesday, The Fly reports. They currently have an outperform rating on the stock.

BKR has been the topic of several other reports. The Goldman Sachs Group decreased their target price on shares of Baker Hughes from $41.00 to $32.00 and set a buy rating on the stock in a research report on Wednesday, July 13th. Wells Fargo & Company decreased their target price on shares of Baker Hughes from $43.00 to $36.00 in a research report on Thursday, July 21st. BMO Capital Markets decreased their target price on shares of Baker Hughes from $33.00 to $30.00 in a research report on Thursday, July 21st. Seaport Res Ptn restated a buy rating on shares of Baker Hughes in a research report on Thursday, July 21st. Finally, Stephens decreased their target price on shares of Baker Hughes from $40.00 to $32.00 in a research report on Thursday, July 21st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $36.05.

Baker Hughes Stock Performance

Shares of BKR opened at $22.97 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.08 and a current ratio of 1.51. The stock has a market capitalization of $23.40 billion, a P/E ratio of -53.42 and a beta of 1.40. The company’s fifty day moving average is $25.02 and its two-hundred day moving average is $30.69. Baker Hughes has a 1 year low of $22.30 and a 1 year high of $39.78.

Baker Hughes (NYSE:BKRGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $5.34 billion. Baker Hughes had a negative net margin of 2.27% and a positive return on equity of 3.82%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that Baker Hughes will post 0.94 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Tuesday, August 9th were issued a $0.18 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. Baker Hughes’s dividend payout ratio (DPR) is -167.44%.

Insider Buying and Selling at Baker Hughes

In other news, Director Michael R. Dumais bought 10,000 shares of Baker Hughes stock in a transaction on Thursday, July 21st. The shares were bought at an average cost of $24.39 per share, for a total transaction of $243,900.00. Following the acquisition, the director now owns 24,977 shares in the company, valued at $609,189.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BKR. Riverview Trust Co acquired a new position in shares of Baker Hughes during the 1st quarter valued at about $27,000. SeaCrest Wealth Management LLC acquired a new position in shares of Baker Hughes during the 2nd quarter valued at about $27,000. Alpha Paradigm Partners LLC acquired a new position in shares of Baker Hughes during the 2nd quarter valued at about $29,000. Hallmark Capital Management Inc. acquired a new position in shares of Baker Hughes during the 2nd quarter valued at about $31,000. Finally, DB Wealth Management Group LLC acquired a new position in shares of Baker Hughes during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 96.62% of the company’s stock.

Baker Hughes Company Profile

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Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies.

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