Traders Buy Large Volume of Baker Hughes A GE Put Options (NYSE:BHGE)

Baker Hughes A GE Co (NYSE:BHGE) was the recipient of unusually large options trading on Wednesday. Stock investors bought 11,550 put options on the stock. This is an increase of 1,739% compared to the typical volume of 628 put options.

BHGE has been the subject of a number of research analyst reports. Bank of America decreased their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. Wells Fargo & Co decreased their price target on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Finally, Credit Suisse Group increased their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.87.

NYSE:BHGE traded down $0.39 during trading hours on Thursday, reaching $21.90. The stock had a trading volume of 26,191,743 shares, compared to its average volume of 4,562,791. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.60. The stock has a 50 day simple moving average of $22.90 and a 200 day simple moving average of $24.39. Baker Hughes A GE has a 12-month low of $20.09 and a 12-month high of $34.49. The stock has a market cap of $25.10 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 3.08 and a beta of 0.96.

Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that Baker Hughes A GE will post 0.98 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, August 12th. Baker Hughes A GE’s dividend payout ratio is currently 109.09%.

In other Baker Hughes A GE news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $20.75 per share, with a total value of $207,500.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $311,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Uwem Ukpong sold 16,686 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $23.62, for a total value of $394,123.32. Following the sale, the insider now directly owns 271 shares of the company’s stock, valued at $6,401.02. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in BHGE. BlackRock Inc. increased its position in Baker Hughes A GE by 18.8% in the second quarter. BlackRock Inc. now owns 45,244,203 shares of the company’s stock worth $1,114,366,000 after buying an additional 7,154,384 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Baker Hughes A GE by 28,940.7% in the second quarter. Nuveen Asset Management LLC now owns 3,283,345 shares of the company’s stock worth $80,869,000 after acquiring an additional 3,272,039 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Baker Hughes A GE by 24.4% in the first quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock worth $325,427,000 after acquiring an additional 2,301,773 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Baker Hughes A GE by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after acquiring an additional 1,432,685 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of Baker Hughes A GE by 14.1% in the second quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock worth $155,639,000 after acquiring an additional 778,490 shares during the period. 48.39% of the stock is owned by institutional investors and hedge funds.

Baker Hughes A GE Company Profile

Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.

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