Baker Hughes (NASDAQ:BKR) Short Interest Up 8.0% in March

Baker Hughes (NASDAQ:BKRGet Free Report) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 24,770,000 shares, an increase of 8.0% from the February 29th total of 22,940,000 shares. Based on an average daily trading volume, of 9,010,000 shares, the short-interest ratio is currently 2.7 days.

Baker Hughes Trading Up 0.9 %

Shares of BKR traded up $0.30 during trading on Wednesday, reaching $33.89. 2,481,547 shares of the company traded hands, compared to its average volume of 9,368,847. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The stock has a market cap of $33.92 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42. The stock has a 50-day simple moving average of $30.65 and a 200-day simple moving average of $32.76. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKRGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts anticipate that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a $0.21 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.48%. The ex-dividend date was Monday, February 12th. Baker Hughes’s payout ratio is currently 43.98%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Barclays dropped their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. TD Cowen raised their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Baker Hughes in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

View Our Latest Stock Report on BKR

Insiders Place Their Bets

In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its stake in Baker Hughes by 0.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,422 shares of the company’s stock valued at $1,088,000 after buying an additional 311 shares during the period. Nordea Investment Management AB grew its stake in shares of Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares during the period. Wellington Management Group LLP grew its stake in shares of Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the period. Artemis Investment Management LLP grew its stake in shares of Baker Hughes by 8.7% during the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after purchasing an additional 248,125 shares during the period. Finally, DDD Partners LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth $11,054,000. 92.06% of the stock is owned by institutional investors and hedge funds.

About Baker Hughes

(Get Free Report)

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.

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