Short Interest in Baker Hughes (NASDAQ:BKR) Drops By 12.1%

Baker Hughes (NASDAQ:BKR - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 22,160,000 shares, a drop of 12.1% from the March 31st total of 25,200,000 shares. Based on an average daily volume of 9,000,000 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

BKR has been the topic of several recent analyst reports. Susquehanna reaffirmed a "positive" rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Citigroup reduced their price target on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, January 26th. Morgan Stanley raised their price target on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. UBS Group raised their price target on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Finally, Wolfe Research downgraded shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $40.94.

Baker Hughes Stock Down 1.4 %

Shares of NASDAQ:BKR traded down $0.46 during trading on Friday, reaching $32.84. The stock had a trading volume of 8,318,500 shares, compared to its average volume of 5,927,995. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The company has a market capitalization of $32.87 billion, a P/E ratio of 18.35, a PEG ratio of 0.62 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $32.05 and its 200 day simple moving average is $32.51.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to analysts' expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company's revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, research analysts expect that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, May 3rd. Baker Hughes's dividend payout ratio (DPR) is presently 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company's stock, valued at $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly 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 owned by company insiders.

Institutional Trading of Baker Hughes

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company's stock worth $85,000 after purchasing an additional 327 shares in the last quarter. Rational Advisors LLC raised its position in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company's stock worth $44,000 after buying an additional 382 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company's stock worth $219,000 after buying an additional 398 shares during the last quarter. Huntington National Bank raised its position in Baker Hughes by 8.2% during the 3rd quarter. Huntington National Bank now owns 5,501 shares of the company's stock worth $194,000 after buying an additional 416 shares during the last quarter. Finally, Blair William & Co. IL raised its position in Baker Hughes by 2.8% during the 3rd quarter. Blair William & Co. IL now owns 15,086 shares of the company's stock worth $533,000 after buying an additional 416 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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.