Baker Hughes (NASDAQ:BKR) Short Interest Update

Baker Hughes (NASDAQ:BKR) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 22,160,000 shares, a decline of 12.1% from the March 31st total of 25,200,000 shares. Based on an average daily volume of 9,000,000 shares, the short-interest ratio is presently 2.5 days.

Baker Hughes Stock Down 1.4 %

Shares of BKR stock traded down $0.46 on Friday, hitting $32.84. The stock had a trading volume of 8,318,500 shares, compared to its average volume of 5,927,995. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The business has a 50 day moving average of $32.05 and a 200 day moving average of $32.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. As a group, analysts expect that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $551,555,000. Cardano Risk Management B.V. purchased a new stake in Baker Hughes in the first quarter worth $117,083,000. FMR LLC raised its stake in shares of Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after buying an additional 2,316,638 shares during the period. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 846.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after buying an additional 2,127,675 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Baker Hughes by 47.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after acquiring an additional 1,822,487 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BKR shares. Citigroup lowered their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Morgan Stanley lifted their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Barclays cut their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. The Goldman Sachs Group lifted their target price on Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Finally, TD Cowen increased their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.94.

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.