Baker Hughes (NASDAQ:BKR) Given New $51.00 Price Target at TD Cowen

Baker Hughes (NASDAQ:BKR) had its target price dropped by analysts at TD Cowen from $53.00 to $51.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 17.40% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Susquehanna raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets raised their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. UBS Group dropped their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $47.18.

Baker Hughes Price Performance

BKR stock opened at $43.44 on Wednesday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a market cap of $42.99 billion, a P/E ratio of 19.48, a PEG ratio of 0.72 and a beta of 1.39. The firm has a 50-day moving average of $42.17 and a 200 day moving average of $37.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Hedge Funds Weigh In On Baker Hughes

Institutional investors and hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of Baker Hughes in the 3rd quarter worth $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after buying an additional 829 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares in the last quarter. Alta Advisers Ltd purchased a new position in shares of Baker Hughes in the 2nd quarter worth $42,000. Finally, Headlands Technologies LLC purchased a new position in shares of Baker Hughes in the 2nd quarter worth $48,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.