Baker Hughes (NASDAQ:BKR) Short Interest Update

Baker Hughes (NASDAQ:BKR) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 17,550,000 shares, a decrease of 5.8% from the August 31st total of 18,630,000 shares. Based on an average daily trading volume, of 6,330,000 shares, the short-interest ratio is presently 2.8 days.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.55, for a total value of $4,405,725.30. Following the completion of the transaction, the chief executive officer now directly owns 616,339 shares in the company, valued at $23,759,868.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Twin Tree Management LP increased its position in shares of Baker Hughes by 183.0% during the first quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after acquiring an additional 219,060 shares in the last quarter. Cibc World Markets Corp increased its holdings in Baker Hughes by 59.4% during the 4th quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock worth $9,367,000 after purchasing an additional 102,174 shares in the last quarter. Caxton Associates LP bought a new stake in Baker Hughes during the 4th quarter worth approximately $13,672,000. KBC Group NV raised its stake in shares of Baker Hughes by 207.1% in the fourth quarter. KBC Group NV now owns 237,356 shares of the company’s stock worth $8,113,000 after purchasing an additional 160,056 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Baker Hughes by 98.7% in the first quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock valued at $1,676,000 after purchasing an additional 24,850 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock opened at $36.75 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. The company’s 50-day moving average is $35.22 and its 200-day moving average is $33.93. The stock has a market capitalization of $36.68 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. 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, topping the consensus estimate of $0.49 by $0.08. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that Baker Hughes will post 2.25 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s payout ratio is currently 46.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BKR shares. Jefferies Financial Group raised their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Morgan Stanley cut their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. The Goldman Sachs Group increased their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Baker Hughes in a research report on Friday, July 26th. Finally, Evercore ISI upped their target price on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.38.

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.