Investors Buy Shares of Baker Hughes (BHGE) on Weakness
Traders bought shares of Baker Hughes Incorporated (NYSE:BHGE) on weakness during trading hours on Friday. $46.16 million flowed into the stock on the tick-up and $15.69 million flowed out of the stock on the tick-down, for a money net flow of $30.47 million into the stock. Of all stocks tracked, Baker Hughes had the 13th highest net in-flow for the day. Baker Hughes traded down ($0.11) for the day and closed at $30.26
Several equities analysts have weighed in on BHGE shares. Zacks Investment Research upgraded Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, November 13th. B. Riley restated a “neutral” rating on shares of Baker Hughes in a report on Friday, November 3rd. Barclays set a $41.00 price target on Baker Hughes and gave the company a “buy” rating in a report on Thursday, October 26th. Citigroup dropped their target price on Baker Hughes from $44.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada set a $38.00 target price on Baker Hughes and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Baker Hughes presently has a consensus rating of “Hold” and an average 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 issued its earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm’s revenue was up 77.7% on a year-over-year basis. research analysts predict that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. Baker Hughes’s payout ratio is presently -111.34%.
In related news, insider Matthias L. Heilmann purchased 1,500 shares of Baker Hughes stock in a transaction dated Thursday, October 26th. The stock was purchased at an average cost of $30.04 per share, with a total value of $45,060.00. Following the transaction, the insider now owns 3,500 shares in the company, valued at approximately $105,140. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.66% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. First Bank & Trust purchased a new position in Baker Hughes during the 3rd quarter worth $101,000. Amica Retiree Medical Trust purchased a new stake in Baker Hughes during the 3rd quarter valued at about $101,000. Trust Co. of Vermont purchased a new stake in Baker Hughes during the 3rd quarter valued at about $105,000. Westside Investment Management Inc. purchased a new stake in Baker Hughes during the 3rd quarter valued at about $108,000. Finally, Sun Life Financial INC purchased a new stake in Baker Hughes during the 3rd quarter valued at about $115,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.
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