Short Interest in Baker Hughes (NASDAQ:BKR) Drops By 10.4%

Baker Hughes (NASDAQ:BKR) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 15,210,000 shares, a decline of 10.4% from the November 30th total of 16,980,000 shares. Based on an average daily volume of 6,420,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BKR shares. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Susquehanna boosted their target price on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, October 24th. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, UBS Group reduced their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Baker Hughes Trading Up 0.2 %

BKR traded up $0.08 during mid-day trading on Wednesday, hitting $41.02. 4,630,617 shares of the stock were exchanged, compared to its average volume of 7,076,203. The firm’s fifty day moving average is $41.51 and its two-hundred day moving average is $37.49. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The company has a market cap of $40.59 billion, a PE ratio of 18.39, a PEG ratio of 0.72 and a beta of 1.40. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. Equities analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Institutional Trading of Baker Hughes

Large investors have recently modified their holdings of the stock. National Pension Service raised its holdings in Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after acquiring an additional 81,625 shares in the last quarter. Hixon Zuercher LLC purchased a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $1,980,000. Banque Cantonale Vaudoise raised its holdings in shares of Baker Hughes by 76.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after purchasing an additional 53,006 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock worth $223,523,000 after purchasing an additional 455,307 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Baker Hughes by 60.3% during the third quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock worth $45,916,000 after purchasing an additional 478,009 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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.