Short Interest in Baker Hughes (NASDAQ:BKR) Rises By 24.2%

Baker Hughes (NASDAQ:BKR) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 16,970,000 shares, an increase of 24.2% from the January 31st total of 13,660,000 shares. Based on an average daily volume of 6,860,000 shares, the short-interest ratio is presently 2.5 days.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.34 during trading on Thursday, hitting $41.98. The company had a trading volume of 2,632,431 shares, compared to its average volume of 6,275,486. The firm has a market capitalization of $41.56 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. Baker Hughes has a one year low of $30.41 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock’s 50-day moving average price is $44.76 and its 200 day moving average price is $40.69.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Equities analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.19%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BKR shares. Jefferies Financial Group boosted 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. Stifel Nicolaus boosted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Piper Sandler upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Baker Hughes by 41.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,050 shares of the company’s stock worth $1,448,000 after acquiring an additional 11,834 shares during the period. Farther Finance Advisors LLC raised its position in Baker Hughes by 51.1% during the third quarter. Farther Finance Advisors LLC now owns 3,574 shares of the company’s stock valued at $129,000 after purchasing an additional 1,208 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Baker Hughes by 63.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock worth $72,368,000 after purchasing an additional 780,417 shares during the last quarter. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% in the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Baker Hughes by 5.8% in the 3rd quarter. QRG Capital Management Inc. now owns 42,175 shares of the company’s stock valued at $1,525,000 after purchasing an additional 2,305 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

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.