Baker Hughes (NASDAQ:BKR - Get Free Report) saw unusually large options trading activity on Wednesday. Traders purchased 13,753 put options on the company. This is an increase of approximately 322% compared to the average volume of 3,262 put options.
Baker Hughes Trading Down 1.0 %
NASDAQ BKR traded down $0.33 on Wednesday, hitting $32.67. 11,445,419 shares of the stock were exchanged, compared to its average volume of 8,770,856. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. The stock has a fifty day moving average price of $31.89 and a two-hundred day moving average price of $32.55. The firm has a market capitalization of $32.70 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.61 and a beta of 1.42. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58.
Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. Baker Hughes's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. Research analysts forecast that Baker Hughes will post 2.07 EPS for the current fiscal year.
Baker Hughes Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes's dividend payout ratio is currently 43.98%.
Insider Buying and Selling
In related news, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company's stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Institutional Trading of Baker Hughes
A number of large investors have recently made changes to their positions in BKR. Norges Bank purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $551,555,000. Cardano Risk Management B.V. bought a new stake in shares of Baker Hughes in the first quarter valued at about $117,083,000. FMR LLC raised its holdings in shares of Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company's stock valued at $567,881,000 after acquiring an additional 2,316,638 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company's stock valued at $84,025,000 after acquiring an additional 2,127,675 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company's stock valued at $192,634,000 after acquiring an additional 1,822,487 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on BKR shares. Royal Bank of Canada reiterated an "outperform" rating and set a $39.00 price objective on shares of Baker Hughes in a research report on Thursday, February 1st. UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday. TD Cowen lifted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 26th. Finally, Barclays cut their target price on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and a consensus price target of $40.94.
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About Baker Hughes
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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.
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