Baker Hughes (NASDAQ:BKR) Short Interest Down 5.8% in September

Baker Hughes (NASDAQ:BKR) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 17,550,000 shares, a decline of 5.8% from the August 31st total of 18,630,000 shares. Based on an average daily trading volume, of 6,330,000 shares, the days-to-cover ratio is presently 2.8 days.

Baker Hughes Trading Up 0.6 %

Shares of Baker Hughes stock traded up $0.20 during mid-day trading on Monday, hitting $36.38. The stock had a trading volume of 837,213 shares, compared to its average volume of 7,391,637. The firm has a 50-day moving average of $35.19 and a two-hundred day moving average of $33.87. The firm has a market cap of $36.31 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 0.59 and a beta of 1.38. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. Sell-side analysts forecast that Baker Hughes will post 2.25 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BKR shares. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group decreased their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Morgan Stanley decreased their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Jefferies Financial Group increased their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

A number of institutional investors have recently modified their holdings of BKR. Twin Tree Management LP increased its stake in Baker Hughes by 183.0% during the 1st quarter. Twin Tree Management LP now owns 338,738 shares of the company’s stock worth $11,348,000 after buying an additional 219,060 shares during the period. Cibc World Markets Corp raised its stake in shares of Baker Hughes by 59.4% in the fourth quarter. Cibc World Markets Corp now owns 274,046 shares of the company’s stock valued at $9,367,000 after acquiring an additional 102,174 shares in the last quarter. Caxton Associates LP purchased a new position in Baker Hughes in the fourth quarter valued at $13,672,000. KBC Group NV grew its stake in Baker Hughes by 207.1% during the 4th quarter. KBC Group NV now owns 237,356 shares of the company’s stock worth $8,113,000 after purchasing an additional 160,056 shares in the last quarter. Finally, Diversified Trust Co grew its stake in Baker Hughes by 98.7% during the 1st quarter. Diversified Trust Co now owns 50,029 shares of the company’s stock worth $1,676,000 after purchasing an additional 24,850 shares in the last quarter. 92.06% of the stock is 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.