Baker Hughes Sees Unusually High Options Volume (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKRGet Free Report) was the target of some unusual options trading on Tuesday. Stock traders acquired 14,982 put options on the company. This represents an increase of approximately 662% compared to the typical volume of 1,966 put options.

Baker Hughes Trading Down 2.2 %

Baker Hughes stock opened at $33.43 on Wednesday. Baker Hughes has a one year low of $28.32 and a one year high of $37.58. The company’s fifty day moving average price is $32.82 and its two-hundred day moving average price is $32.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 0.59 and a beta of 1.41.

Baker Hughes (NASDAQ:BKRGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that Baker Hughes will post 2.09 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Susquehanna reissued a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Morgan Stanley upped their price target on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price target on shares of Baker Hughes from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.27.

Check Out Our Latest Stock Analysis on Baker Hughes

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the sale, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Baker Hughes

Several large investors have recently modified their holdings of the company. Spire Wealth Management increased its position in Baker Hughes by 256.7% in the 1st quarter. Spire Wealth Management now owns 767 shares of the company’s stock worth $26,000 after buying an additional 552 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Baker Hughes in the first quarter worth $27,000. Bruce G. Allen Investments LLC bought a new position in Baker Hughes during the fourth quarter worth $33,000. Montag A & Associates Inc. increased its position in Baker Hughes by 100.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new position in Baker Hughes during the 1st quarter valued at $34,000. 92.06% of the stock is owned by institutional investors.

Baker Hughes Company Profile

(Get Free Report)

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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