Baker Hughes (NASDAQ:BKR) Sees Large Increase in Short Interest

Baker Hughes (NASDAQ:BKR) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 20,640,000 shares, an increase of 21.6% from the February 13th total of 16,970,000 shares. Based on an average daily trading volume, of 7,280,000 shares, the short-interest ratio is currently 2.8 days. Currently, 2.1% of the shares of the company are short sold.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BKR. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter worth about $829,092,000. Raymond James Financial Inc. bought a new stake in Baker Hughes during the 4th quarter worth approximately $291,289,000. Neuberger Berman Group LLC raised its stake in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Baker Hughes in the fourth quarter worth approximately $128,542,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.4 %

NASDAQ:BKR opened at $43.70 on Wednesday. The firm has a fifty day simple moving average of $44.90 and a two-hundred day simple moving average of $41.21. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The stock has a market capitalization of $43.27 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.00 and a beta of 1.30. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.11%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BKR. TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.06.

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.