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

Baker Hughes Company (NASDAQ:BKR) was the target of some unusual options trading on Wednesday. Traders bought 6,843 call options on the company. This is an increase of approximately 142% compared to the typical volume of 2,822 call options.

Baker Hughes Trading Up 3.4%

Shares of Baker Hughes stock opened at $49.41 on Thursday. The firm’s 50 day moving average is $56.04 and its 200 day moving average is $59.95. The firm has a market capitalization of $49.07 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.28 and a beta of 1.07. Baker Hughes has a 1 year low of $44.26 and a 1 year high of $70.41. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.85.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.74 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes will post 2.56 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes’s dividend payout ratio is 31.72%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BKR shares. Wall Street Zen cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Susquehanna increased their price target on shares of Baker Hughes from $72.00 to $75.00 and gave the stock a “positive” rating in a research report on Thursday, September 10th. Citigroup reduced their price target on shares of Baker Hughes from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. TD Cowen lifted their price objective on shares of Baker Hughes from $76.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Insiders Place Their Bets

In other news, Director John Rice acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was acquired at an average price of $53.10 per share, with a total value of $531,000.00. Following the completion of the transaction, the director directly owned 77,315 shares of the company’s stock, valued at $4,105,426.50. This trade represents a 14.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in shares of Baker Hughes by 152.3% in the second quarter. NewEdge Advisors LLC now owns 149,817 shares of the company’s stock valued at $8,315,000 after buying an additional 90,427 shares during the period. National Pension Service boosted its position in Baker Hughes by 29.0% during the 2nd quarter. National Pension Service now owns 1,867,731 shares of the company’s stock worth $103,659,000 after buying an additional 419,426 shares during the period. Allworth Financial LP boosted its position in Baker Hughes by 19.5% during the 2nd quarter. Allworth Financial LP now owns 231,538 shares of the company’s stock worth $12,850,000 after buying an additional 37,814 shares during the period. Fifth Third Bancorp grew its holdings in Baker Hughes by 367.1% during the 1st quarter. Fifth Third Bancorp now owns 199,621 shares of the company’s stock worth $12,187,000 after acquiring an additional 156,881 shares during the last quarter. Finally, CenterBook Partners LP grew its holdings in Baker Hughes by 107.5% during the 3rd quarter. CenterBook Partners LP now owns 59,083 shares of the company’s stock worth $3,244,000 after acquiring an additional 30,612 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing. The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.