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

Baker Hughes (NASDAQ:BKR) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 13,650,000 shares, a drop of 10.3% from the December 15th total of 15,210,000 shares. Based on an average daily volume of 6,110,000 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

Several research firms recently weighed in on BKR. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Barclays boosted their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group lifted their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, TD Cowen decreased their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

Baker Hughes Stock Up 0.5 %

Shares of BKR stock traded up $0.21 during mid-day trading on Friday, hitting $46.54. The company’s stock had a trading volume of 8,479,344 shares, compared to its average volume of 4,849,551. The stock has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $47.47. The business has a 50-day moving average price of $42.74 and a 200 day moving average price of $38.33.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. Research analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

Institutional Investors Weigh In On Baker Hughes

A number of large investors have recently added to or reduced their stakes in BKR. Bridges Investment Management Inc. lifted its stake in shares of Baker Hughes by 3.1% in the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after purchasing an additional 273 shares during the period. 180 Wealth Advisors LLC raised its position in Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after acquiring an additional 295 shares during the period. Graypoint LLC increased its stake in shares of Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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.