Short Interest in Baker Hughes (NASDAQ:BKR) Expands By 11.5%

Baker Hughes (NASDAQ:BKR) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 25,460,000 shares, an increase of 11.5% from the May 31st total of 22,830,000 shares. Based on an average daily volume of 6,500,000 shares, the short-interest ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a research note on Tuesday, April 23rd. Jefferies Financial Group increased their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Wednesday, April 24th. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Finally, UBS Group increased their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $41.27.

Baker Hughes Stock Down 0.6 %

Baker Hughes stock traded down $0.22 during mid-day trading on Wednesday, reaching $34.47. 2,796,499 shares of the company’s stock were exchanged, compared to its average volume of 7,814,788. The company has a market cap of $34.40 billion, a P/E ratio of 19.34, a P/E/G ratio of 0.60 and a beta of 1.41. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $32.70 and a 200-day moving average of $32.06.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business earned $0.28 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.09 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.44%. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the sale, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in Baker Hughes by 35.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,272 shares of the company’s stock worth $80,000 after acquiring an additional 598 shares in the last quarter. GAMMA Investing LLC raised its stake in Baker Hughes by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,101 shares of the company’s stock worth $179,000 after acquiring an additional 781 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Baker Hughes by 29.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 420,504 shares of the company’s stock worth $14,038,000 after acquiring an additional 96,471 shares in the last quarter. Cetera Advisors LLC raised its stake in Baker Hughes by 55.8% during the 1st quarter. Cetera Advisors LLC now owns 9,319 shares of the company’s stock worth $312,000 after acquiring an additional 3,339 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Baker Hughes during the 1st quarter worth $17,706,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.