Short Interest in Baker Hughes (NASDAQ:BKR) Increases By 9.3%

Baker Hughes (NASDAQ:BKR) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 19,190,000 shares, a growth of 9.3% from the September 15th total of 17,550,000 shares. Based on an average daily volume of 6,540,000 shares, the days-to-cover ratio is currently 2.9 days.

Baker Hughes Trading Down 3.6 %

Shares of NASDAQ BKR traded down $1.34 during mid-day trading on Tuesday, hitting $36.29. The stock had a trading volume of 3,455,107 shares, compared to its average volume of 7,257,761. The firm has a market cap of $36.22 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The business has a 50 day moving average price of $35.36 and a two-hundred day moving average price of $34.21. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the business earned $0.39 EPS. Baker Hughes’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were paid a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.31%. Baker Hughes’s payout ratio is 46.93%.

Analysts Set New Price Targets

Several research firms have weighed in on BKR. BMO Capital Markets boosted their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Susquehanna lifted their price objective on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Citigroup dropped their target price on shares of Baker Hughes from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Finally, Bank of America decreased their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.65.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at approximately $17,571,855. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently modified their holdings of BKR. Price T Rowe Associates Inc. MD grew its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after buying an additional 4,207,973 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Baker Hughes during the 1st quarter valued at about $117,083,000. Legal & General Group Plc grew its stake in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after acquiring an additional 692,859 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Baker Hughes by 10.2% during the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

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.