Baker Hughes A GE (BHGE) Shares Gap Up to $21.47

Baker Hughes A GE Co (NYSE:BHGE) shares gapped up before the market opened on Friday . The stock had previously closed at $20.98, but opened at $21.47. Baker Hughes A GE shares last traded at $21.66, with a volume of 5091503 shares traded.

BHGE has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Baker Hughes A GE in a research report on Tuesday, September 18th. They set an “overweight” rating and a $40.00 price target on the stock. Jefferies Financial Group lowered Baker Hughes A GE from a “buy” rating to a “hold” rating and cut their price target for the stock from $38.00 to $36.00 in a research report on Wednesday, October 31st. UBS Group cut their price target on Baker Hughes A GE from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. Guggenheim lowered Baker Hughes A GE from a “hold” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, TheStreet lowered Baker Hughes A GE from a “c-” rating to a “d+” rating in a research report on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $36.36.

The firm has a market cap of $9.13 billion, a PE ratio of 41.65, a P/E/G ratio of 4.31 and a beta of 0.82. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.17.

Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The company had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.88 billion. Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Research analysts anticipate that Baker Hughes A GE Co will post 0.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, November 15th. Baker Hughes A GE’s payout ratio is currently 138.46%.

In other news, Director Electric Co General sold 101,200,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $22.47, for a total value of $2,273,964,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Baker Hughes A GE by 2.2% during the third quarter. Capital World Investors now owns 49,431,229 shares of the company’s stock worth $1,672,258,000 after acquiring an additional 1,061,251 shares during the period. Dodge & Cox grew its holdings in Baker Hughes A GE by 4.2% during the third quarter. Dodge & Cox now owns 39,653,536 shares of the company’s stock worth $1,341,479,000 after acquiring an additional 1,606,897 shares during the period. Capital International Investors grew its holdings in Baker Hughes A GE by 1,249.7% during the third quarter. Capital International Investors now owns 16,163,579 shares of the company’s stock worth $546,814,000 after acquiring an additional 14,965,979 shares during the period. American Century Companies Inc. grew its holdings in Baker Hughes A GE by 6.2% during the third quarter. American Century Companies Inc. now owns 8,016,963 shares of the company’s stock worth $271,214,000 after acquiring an additional 465,135 shares during the period. Finally, TCW Group Inc. grew its holdings in Baker Hughes A GE by 2.4% during the third quarter. TCW Group Inc. now owns 4,515,865 shares of the company’s stock worth $152,771,000 after acquiring an additional 106,099 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

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About Baker Hughes A GE (NYSE:BHGE)

Baker Hughes, a GE 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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