Short Interest in Baker Hughes (NASDAQ:BKR) Grows By 24.2%

Baker Hughes (NASDAQ:BKR - Get Free Report) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 16,970,000 shares, an increase of 24.2% from the January 31st total of 13,660,000 shares. Based on an average daily trading volume, of 6,860,000 shares, the days-to-cover ratio is presently 2.5 days.

Baker Hughes Stock Performance

Shares of BKR traded up $0.99 on Friday, reaching $42.89. 9,116,402 shares of the stock traded hands, compared to its average volume of 6,279,988. The firm has a market cap of $42.47 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 12 month low of $30.52 and a 12 month high of $49.40. The stock's 50-day moving average price is $44.82 and its 200-day moving average price is $40.80.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is 30.87%.

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Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Baker Hughes

A number of large investors have recently bought and sold shares of BKR. Capital Research Global Investors grew its holdings in shares of Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after purchasing an additional 177,232 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the last quarter. Norges Bank bought a new stake in shares of Baker Hughes during the fourth quarter worth $829,092,000. FMR LLC grew its holdings in shares of Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Baker Hughes by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock worth $473,880,000 after purchasing an additional 874,297 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BKR. The Goldman Sachs Group boosted their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Benchmark restated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Piper Sandler upped their price target on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Bank of America upped their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $51.06.

Baker Hughes Company Profile

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.