Stock Traders Purchase Large Volume of Baker Hughes Put Options (NASDAQ:BKR)

Baker Hughes (NASDAQ:BKRGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 14,982 put options on the company. This is an increase of approximately 662% compared to the average volume of 1,966 put options.

Analyst Upgrades and Downgrades

BKR has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. UBS Group boosted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley upped their price objective on Baker Hughes from $40.00 to $43.00 in a research note 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 restated a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.27.

Get Our Latest Analysis on Baker Hughes

Baker Hughes Stock Down 2.2 %

NASDAQ BKR opened at $33.43 on Wednesday. Baker Hughes has a 12 month low of $28.32 and a 12 month high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The stock has a market cap of $33.36 billion, a PE ratio of 18.68, a P/E/G ratio of 0.59 and a beta of 1.41. The stock’s 50 day moving average is $32.82 and its 200 day moving average is $32.06.

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

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Baker Hughes

Several large investors have recently made changes to their positions in BKR. Spire Wealth Management lifted its position in Baker Hughes by 256.7% during the first quarter. Spire Wealth Management now owns 767 shares of the company’s stock valued at $26,000 after purchasing an additional 552 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Baker Hughes in the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes in the 4th quarter valued at about $33,000. Montag A & Associates Inc. grew its position in Baker Hughes by 100.0% in 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 in the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in Baker Hughes during the first quarter worth approximately $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.

Further Reading

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