Investors Purchase Large Volume of Baker Hughes Call Options (NASDAQ:BKR)

Key Points

• Unusually high options activity: Investors purchased 4,309 Baker Hughes call options, 72% above the typical volume of 2,501 contracts.
• Analysts remain broadly positive: Baker Hughes has an average “Moderate Buy” rating and an average price target of $72.10, despite mixed recent target adjustments.
• Stock and fundamentals: Shares closed at $56.01, while the company recently exceeded quarterly earnings and revenue estimates. Institutional investors own 92.06% of the stock.

Baker Hughes Company (NASDAQ:BKR - Get Free Report) was the target of unusually large options trading on Monday. Investors bought 4,309 call options on the company. This is an increase of 72% compared to the typical volume of 2,501 call options.

Analysts Set New Price Targets

Several research firms recently weighed in on BKR. TD Cowen decreased their target price on Baker Hughes from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Tuesday, September 29th. Royal Bank Of Canada lifted their price target on shares of Baker Hughes from $71.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Wall Street Zen downgraded shares of Baker Hughes from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Baker Hughes in a research report on Friday, October 9th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 target price on shares of Baker Hughes in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $72.10.

Baker Hughes Price Performance

BKR stock traded up $0.15 on Monday, reaching $56.01. 1,899,004 shares of the company's stock were exchanged, compared to its average volume of 8,579,497. The stock has a fifty day moving average of $58.94 and a 200-day moving average of $60.61. The firm has a market cap of $55.60 billion, a PE ratio of 18.06, a P/E/G ratio of 2.66 and a beta of 1.04. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77. Baker Hughes has a twelve month low of $44.26 and a twelve month high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.13. The business had revenue of $6.74 billion for the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. As a group, equities analysts predict that Baker Hughes will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hourglass Capital LLC boosted its stake in shares of Baker Hughes by 1.0% during the 3rd quarter. Hourglass Capital LLC now owns 51,450 shares of the company's stock worth $2,825,000 after acquiring an additional 500 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Baker Hughes by 67.3% during the third quarter. Apollon Wealth Management LLC now owns 252,090 shares of the company's stock worth $13,840,000 after purchasing an additional 101,411 shares in the last quarter. Paladin Wealth LLC boosted its position in Baker Hughes by 2.6% during the third quarter. Paladin Wealth LLC now owns 9,162 shares of the company's stock worth $503,000 after purchasing an additional 230 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Baker Hughes in the third quarter valued at $221,000. Finally, One Wealth Capital Management LLC acquired a new position in shares of Baker Hughes during the 3rd quarter worth $321,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Company Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company's oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.