Baker Hughes (NYSE:BKR) was the target of a significant growth in short interest during the month of October. As of October 29th, there was short interest totalling 73,920,000 shares, a growth of 37.7% from the October 14th total of 53,680,000 shares. Based on an average daily volume of 9,030,000 shares, the days-to-cover ratio is presently 8.2 days.
In other news, SVP Kurt Camilleri sold 9,992 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $25.54, for a total value of $255,195.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Uwem Ukpong sold 10,000 shares of the stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $23.05, for a total transaction of $230,500.00. The disclosure for this sale can be found here. Insiders have sold 47,536,970 shares of company stock valued at $1,188,390,566 in the last quarter. 0.29% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in shares of Baker Hughes during the 2nd quarter valued at approximately $25,000. Duncker Streett & Co. Inc. purchased a new stake in Baker Hughes in the 3rd quarter worth $25,000. PNC Managed Account Solutions Inc. purchased a new stake in Baker Hughes in the 2nd quarter worth $29,000. Berman Capital Advisors LLC increased its holdings in Baker Hughes by 195.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,379 shares of the company’s stock worth $31,000 after acquiring an additional 913 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Baker Hughes by 78.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,360 shares of the company’s stock worth $34,000 after acquiring an additional 596 shares in the last quarter. 91.07% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:BKR traded down $1.38 during trading on Friday, hitting $22.55. 9,772,777 shares of the stock traded hands, compared to its average volume of 8,416,458. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 0.39. The company has a market cap of $23.38 billion, a price-to-earnings ratio of 98.04 and a beta of 1.67. The company has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $23.67. Baker Hughes has a 52-week low of $17.98 and a 52-week high of $27.66.
Baker Hughes (NYSE:BKR) last posted its earnings results on Tuesday, October 19th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.05). The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Baker Hughes had a net margin of 0.69% and a return on equity of 1.51%. Baker Hughes’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities research analysts predict that Baker Hughes will post 0.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Tuesday, November 2nd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, November 1st. Baker Hughes’s dividend payout ratio (DPR) is 313.04%.
Several research analysts recently commented on BKR shares. Cowen raised their price target on shares of Baker Hughes from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Baker Hughes in a report on Thursday, September 9th. Morgan Stanley increased their target price on shares of Baker Hughes from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 11th. The Goldman Sachs Group upgraded shares of Baker Hughes from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, August 17th. Finally, Wells Fargo & Company raised their price target on shares of Baker Hughes from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, October 21st. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.74.
Baker Hughes Company Profile
Baker Hughes Co is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention.