Baker Hughes (NASDAQ:BKR) Short Interest Update

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BKR. National Pension Service grew its position in Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after acquiring an additional 81,625 shares during the last quarter. Hixon Zuercher LLC bought a new position in Baker Hughes during the third quarter valued at about $1,980,000. Banque Cantonale Vaudoise raised its stake in shares of Baker Hughes by 76.1% in the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after buying an additional 53,006 shares during the period. AQR Capital Management LLC raised its position in shares of Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after purchasing an additional 455,307 shares during the period. Finally, National Bank of Canada FI boosted its stake in Baker Hughes by 60.3% in the 3rd 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 during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.08 during trading hours on Tuesday, hitting $41.02. 4,630,617 shares of the stock were exchanged, compared to its average volume of 7,076,203. The stock has a market capitalization of $40.59 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $45.17. The business’s 50-day moving average is $41.43 and its two-hundred day moving average is $37.47.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Analyst Ratings Changes

BKR has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Barclays upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley upped their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Bank of America upped their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price objective on Baker Hughes from $42.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $47.00.

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.