Baker Hughes (NYSE: BKR) sees significant growth in short interest
Baker Hughes (NYSE: BKR) was the target of significant short-term interest growth during the month of October. As of October 29, there was short interest totaling 73,920,000 shares, an increase of 37.7% from the total of 53,680,000 shares as of October 14. Based on an average daily volume of 9,030,000 shares, the day-to-coverage ratio is currently 8.2 days.
In addition, SVP Kurt Camilleri sold 9,992 shares in a trade on Monday, November 1. The shares were sold for an average price of $ 25.54, for a total value of $ 255,195.68. The sale was disclosed in a filing with the SEC, which is available at this link. Additionally, Executive Vice President Uwem Ukpong sold 10,000 shares in a trade on Tuesday, September 7th. The shares were sold at an average price of $ 23.05, for a total trade of $ 230,500.00. Disclosure of this sale can be found here. Insiders sold 47,536,970 shares of the company valued at $ 1,188,390,566 during the last quarter. 0.29% of the shares are held by insiders of the company.
Major investors have recently bought and sold shares in the company. Advisory Services Network LLC purchased a new position in Baker Hughes shares during the second quarter valued at approximately $ 25,000. Duncker Streett & Co. Inc. acquired a new stake in Baker Hughes in the third quarter for a value of $ 25,000. PNC Managed Account Solutions Inc. purchased a new stake in Baker Hughes in the second quarter valued at $ 29,000. Berman Capital Advisors LLC increased its stake in Baker Hughes by 195.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,379 shares of the company valued at $ 31,000 after acquiring 913 additional shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Baker Hughes by 78.0% in the 3rd quarter. Global Retirement Partners LLC now owns 1,360 shares of the company valued at $ 34,000 after acquiring an additional 596 shares in the last quarter. 91.07% of the shares are held by hedge funds and other institutional investors.
NYSE: BKR shares traded down $ 1.38 in Friday’s session, reaching $ 22.55. 9,772,777 shares of the stock traded for an average volume of 8,416,458. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt ratio of 0.39. The company has a market cap of $ 23.38 billion, a price-to-earnings ratio of 98.04 and a beta of 1.67. The company has a fifty-day moving average price of $ 24.93 and a two hundred-day moving average price of $ 23.67. Baker Hughes has a 52-week low of $ 17.98 and a 52-week high of $ 27.66.
Baker Hughes (NYSE: BKR) last released its results on Tuesday, October 19. The company reported earnings of $ 0.16 per share for the quarter, missing the consensus estimate of $ 0.21 ($ 0.05). The company posted revenue of $ 5.38 billion for the quarter, compared to $ 5.32 billion expected by analysts. Baker Hughes had a net margin of 0.69% and a return on equity of 1.51%. Baker Hughes revenue for the quarter increased 5.6% from the same quarter last year. During the same period last year, the company made a profit of $ 0.04 per share. On average, equity research analysts predict Baker Hughes will post 0.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 12. Shareholders of record on Tuesday, November 2 received a dividend of $ 0.18 per share. This represents an annualized dividend of $ 0.72 and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, November 1. Baker Hughes’ dividend payout ratio (DPR) is 313.04%.
Several research analysts recently commented on BKR shares. Cowen raised his price target for Baker Hughes stock from $ 28.00 to $ 31.00 and rated the stock as “outperforming” in a research note on Thursday, July 22. The Royal Bank of Canada reiterated an “outperform” rating and set a target price of $ 31.00 for Baker Hughes shares in a report released on Thursday, September 9. Morgan Stanley raised its target price on Baker Hughes shares from $ 28.00 to $ 30.00 and rated the stock “overweight” in a report released on Monday, October 11. The Goldman Sachs group upgraded Baker Hughes’ shares from a “buy” rating to a “condemnation-buy” rating in a report released on Tuesday, August 17. Finally, Wells Fargo & Company raised its price target for Baker Hughes stock from $ 25 to $ 26.00 and gave the company an “equal weight” rating in a report released Thursday, October 21. Four research analysts rated the stock with a conservation rating, fourteen assigned a buy rating and two rated the company a high buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $ 27.74.
Baker Hughes Company Profile
Baker Hughes Co is a holding company. The company provides digital products, services and solutions for the oilfields. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations throughout the life cycle of a well, from drilling to assessment, completion, production and response.
See also: Explanation upward / downward
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