Baker Hughes (NASDAQ:BKR) Short Interest Update

Baker Hughes (NASDAQ:BKR) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 18,880,000 shares, a drop of 13.0% from the June 30th total of 21,690,000 shares. Based on an average daily volume of 6,080,000 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Ratings Changes

A number of analysts have recently commented on BKR shares. Bank of America lowered their target price on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. TD Cowen upped their price objective on Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company increased their price target on shares of Baker Hughes from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.23 during midday trading on Tuesday, hitting $38.24. The company’s stock had a trading volume of 9,965,761 shares, compared to its average volume of 7,611,110. The company has a market cap of $38.16 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $38.67. The business’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $32.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share 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 analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts forecast that Baker Hughes will post 2.11 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.84 annualized dividend and a dividend yield of 2.20%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s 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 sale, the executive vice president now owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Baker Hughes

A number of hedge funds have recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Baker Hughes by 18.4% in the 2nd quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock valued at $66,000 after purchasing an additional 291 shares during the last quarter. Blue Trust Inc. lifted its holdings in Baker Hughes by 15.5% in the fourth quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after acquiring an additional 327 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Baker Hughes by 6.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after acquiring an additional 398 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its position in Baker Hughes by 6.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after acquiring an additional 467 shares during the period. Finally, Aspire Private Capital LLC increased its stake in Baker Hughes by 9.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock worth $196,000 after acquiring an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.