Short Interest in Baker Hughes (NASDAQ:BKR) Decreases By 10.4%

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

Wall Street Analysts Forecast Growth

BKR has been the subject of several recent research reports. Citigroup raised their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley increased their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Barclays lifted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, UBS Group cut their target price on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Hedge Funds Weigh In On Baker Hughes

A number of large investors have recently bought and sold shares of the company. Bridges Investment Management Inc. boosted its holdings in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after acquiring an additional 273 shares in the last quarter. Graypoint LLC boosted its holdings in Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Baker Hughes by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after purchasing an additional 398 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock valued at $326,000 after buying an additional 401 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Baker Hughes by 7.8% in the third quarter. Brooklyn Investment Group now owns 6,756 shares of the company’s stock valued at $244,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock traded up $0.08 on Tuesday, hitting $41.02. The company’s stock had a trading volume of 4,513,742 shares, compared to its average volume of 7,075,739. The stock has a market cap of $40.59 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40. The firm has a 50 day moving average of $41.24 and a two-hundred day moving average of $37.33. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.05%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

About Baker Hughes

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.