Baker Hughes Sees Unusually High Options Volume (NYSE:BKR)

Baker Hughes Company (NYSE:BKR) was the recipient of some unusual options trading on Tuesday. Traders purchased 10,040 put options on the stock. This is an increase of 4,614% compared to the typical daily volume of 213 put options.

A number of research firms recently issued reports on BKR. Deutsche Bank began coverage on shares of Baker Hughes in a research note on Wednesday, November 27th. They issued a “buy” rating and a $32.00 price target for the company. Barclays reiterated a “buy” rating and set a $28.00 target price on shares of Baker Hughes in a report on Friday, November 1st. TheStreet downgraded Baker Hughes from a “c-” rating to a “d” rating in a report on Monday, October 21st. Susquehanna Bancshares raised Baker Hughes from a “neutral” rating to a “positive” rating in a research report on Friday, November 15th. Finally, ValuEngine cut Baker Hughes from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.00.

In other news, insider William D. Marsh sold 5,857 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $22.65, for a total value of $132,661.05. Following the completion of the sale, the insider now directly owns 33,647 shares of the company’s stock, valued at approximately $762,104.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William D. Marsh sold 6,136 shares of Baker Hughes stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.15, for a total transaction of $135,912.40. Following the sale, the insider now directly owns 39,504 shares in the company, valued at approximately $875,013.60. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Baker Hughes in the 3rd quarter worth approximately $132,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Baker Hughes during the third quarter worth approximately $1,235,000. Janney Montgomery Scott LLC acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $233,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $165,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Baker Hughes in the 3rd quarter valued at $6,669,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Baker Hughes stock opened at $21.32 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.17 and a beta of 0.98. Baker Hughes has a 12 month low of $20.09 and a 12 month high of $28.65.

Baker Hughes (NYSE:BKR) last released its earnings results on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The business had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $6.11 billion. Baker Hughes had a return on equity of 1.19% and a net margin of 0.89%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 0.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.72 dividend on an annualized basis and a yield of 3.38%. Baker Hughes’s dividend payout ratio (DPR) is currently 109.09%.

About Baker Hughes

Baker Hughes Company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas and oilfield service companies.

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