Traders Buy High Volume of Put Options on Baker Hughes (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKRGet Free Report) saw unusually large options trading on Tuesday. Stock traders bought 14,982 put options on the stock. This represents an increase of approximately 662% compared to the average daily volume of 1,966 put options.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BKR shares. UBS Group boosted their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. The Goldman Sachs Group lifted their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Jefferies Financial Group lifted their target price on Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.27.

Read Our Latest Stock Analysis on BKR

Baker Hughes Stock Up 1.2 %

Shares of BKR opened at $33.84 on Thursday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $33.77 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.58 and a beta of 1.41. The stock’s 50-day moving average price is $32.86 and its 200-day moving average price is $32.07.

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

Baker Hughes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.48%. Baker Hughes’s payout ratio is 46.93%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Baker Hughes

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Baker Hughes by 32.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares during the last quarter. Norges Bank acquired a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $551,555,000. Morgan Stanley increased its holdings in shares of Baker Hughes by 8.6% in the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after purchasing an additional 745,511 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after purchasing an additional 1,395,083 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Baker Hughes by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after purchasing an additional 204,839 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

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.

Further Reading

Receive News & Ratings for Baker Hughes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes and related companies with MarketBeat.com's FREE daily email newsletter.