Investors Buy Shares of Baker Hughes (BHGE) on Weakness
Traders bought shares of Baker Hughes Incorporated (NYSE:BHGE) on weakness during trading hours on Wednesday. $60.61 million flowed into the stock on the tick-up and $16.62 million flowed out of the stock on the tick-down, for a money net flow of $43.99 million into the stock. Of all companies tracked, Baker Hughes had the 6th highest net in-flow for the day. Baker Hughes traded down ($0.62) for the day and closed at $30.33
BHGE has been the subject of several analyst reports. Zacks Investment Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, November 13th. B. Riley reissued a “neutral” rating on shares of Baker Hughes in a report on Friday, November 3rd. Barclays set a $41.00 price objective on Baker Hughes and gave the company a “buy” rating in a report on Thursday, October 26th. Citigroup cut their price target on Baker Hughes from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada set a $38.00 price target on Baker Hughes and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.74.
The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90.
Baker Hughes (NYSE:BHGE) last posted its quarterly earnings results on Friday, October 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.52 billion. The business’s revenue was up 77.7% compared to the same quarter last year. sell-side analysts anticipate that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were issued a $0.18 dividend. The ex-dividend date was Friday, November 3rd. This is a boost from Baker Hughes’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.37%. Baker Hughes’s dividend payout ratio is currently -111.34%.
In other Baker Hughes news, insider Matthias L. Heilmann acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were purchased at an average cost of $30.04 per share, for a total transaction of $45,060.00. Following the completion of the acquisition, the insider now owns 3,500 shares of the company’s stock, valued at approximately $105,140. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. First Bank & Trust purchased a new position in Baker Hughes in the third quarter valued at $101,000. Amica Retiree Medical Trust purchased a new position in Baker Hughes in the third quarter valued at $101,000. Trust Co. of Vermont purchased a new position in shares of Baker Hughes during the third quarter worth about $105,000. Westside Investment Management Inc. purchased a new position in shares of Baker Hughes during the third quarter worth about $108,000. Finally, Sun Life Financial INC purchased a new position in shares of Baker Hughes during the third quarter worth about $115,000. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
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