Baker Hughes (NASDAQ:BKR) Sees Significant Increase in Short Interest

Baker Hughes (NASDAQ:BKR) was the recipient of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 16,970,000 shares, an increase of 24.2% from the January 31st total of 13,660,000 shares. Based on an average daily trading volume, of 6,860,000 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analyst Weigh In

BKR has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays raised their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Trading Down 1.7 %

Shares of BKR opened at $42.86 on Wednesday. The firm’s 50-day moving average is $44.73 and its two-hundred day moving average is $40.68. The firm has a market capitalization of $42.44 billion, a P/E ratio of 14.38, a PEG ratio of 2.00 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a twelve month low of $29.30 and a twelve month high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Baker Hughes

Large investors have recently added to or reduced their stakes in the stock. Dynasty Wealth Management LLC raised its holdings in Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock valued at $324,000 after acquiring an additional 207 shares in the last quarter. Larson Financial Group LLC increased its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after acquiring an additional 216 shares during the period. Alpine Woods Capital Investors LLC raised its stake in shares of Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after purchasing an additional 267 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after buying an additional 269 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.