Investors Purchase High Volume of Put Options on Baker Hughes A GE (NYSE:BHGE)

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Baker Hughes A GE Co (NYSE:BHGE) was the recipient of some unusual options trading activity on Wednesday. Investors bought 11,550 put options on the company. This represents an increase of approximately 1,739% compared to the average volume of 628 put options.

Several equities analysts have recently issued reports on the company. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. Bank of America lowered their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Wells Fargo & Co lowered their price target on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group set a $32.00 price target on Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Credit Suisse Group lifted their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.87.

In related news, CEO Lorenzo Simonelli purchased 15,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $20.61 per share, with a total value of $309,150.00. Following the transaction, the chief executive officer now directly owns 113,368 shares in the company, valued at $2,336,514.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Uwem Ukpong sold 16,686 shares of Baker Hughes A GE stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $23.62, for a total value of $394,123.32. Following the completion of the transaction, the insider now directly owns 271 shares of the company’s stock, valued at approximately $6,401.02. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Large investors have recently modified their holdings of the business. Perkins Coie Trust Co increased its position in shares of Baker Hughes A GE by 38.3% during the 2nd quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Baker Hughes A GE by 63.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares during the last quarter. Eaton Vance Management increased its position in shares of Baker Hughes A GE by 5.1% during the 2nd quarter. Eaton Vance Management now owns 10,458 shares of the company’s stock valued at $258,000 after purchasing an additional 509 shares during the last quarter. Wealthfront Advisers LLC increased its position in shares of Baker Hughes A GE by 1.7% during the 1st quarter. Wealthfront Advisers LLC now owns 33,916 shares of the company’s stock valued at $940,000 after purchasing an additional 568 shares during the last quarter. Finally, Securian Asset Management Inc increased its position in shares of Baker Hughes A GE by 1.1% during the 2nd quarter. Securian Asset Management Inc now owns 53,043 shares of the company’s stock valued at $1,306,000 after purchasing an additional 573 shares during the last quarter. 48.39% of the stock is owned by institutional investors and hedge funds.

NYSE:BHGE traded down $0.03 during mid-day trading on Thursday, reaching $22.26. The company’s stock had a trading volume of 2,214,143 shares, compared to its average volume of 4,562,791. Baker Hughes A GE has a 12-month low of $20.09 and a 12-month high of $34.49. The firm’s fifty day moving average price is $22.90 and its two-hundred day moving average price is $24.39. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The stock has a market cap of $25.10 billion, a P/E ratio of 33.39, a PEG ratio of 3.08 and a beta of 0.96.

Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. Baker Hughes A GE’s revenue was up 8.0% on a year-over-year basis. Analysts predict that Baker Hughes A GE will post 0.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, August 12th. Baker Hughes A GE’s dividend payout ratio (DPR) is 109.09%.

Baker Hughes A GE Company Profile

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.

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