Baker Hughes (NASDAQ:BKR) Short Interest Up 21.6% in February

Baker Hughes (NASDAQ:BKR - Get Free Report) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 20,640,000 shares, an increase of 21.6% from the February 13th total of 16,970,000 shares. Based on an average trading volume of 7,280,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.1% of the company's shares are short sold.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.58 on Friday, reaching $44.11. The company's stock had a trading volume of 20,138,327 shares, compared to its average volume of 6,281,327. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $43.67 billion, a P/E ratio of 14.80, a PEG ratio of 2.00 and a beta of 1.30. The stock has a 50-day moving average price of $44.97 and a 200-day moving average price of $41.32. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

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

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Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Baker Hughes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in Baker Hughes during the fourth quarter worth $640,000. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes during the 4th quarter worth about $1,180,000. Artemis Investment Management LLP raised its holdings in Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after buying an additional 239,773 shares during the period. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% in the fourth quarter. Czech National Bank now owns 214,549 shares of the company's stock valued at $8,801,000 after buying an additional 12,178 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. TD Cowen dropped their price objective on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

About Baker Hughes

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.