Baker Hughes A GE Co (NYSE:BHGE) shares saw unusually-high trading volume on Friday . Approximately 365,533 shares changed hands during mid-day trading, a decline of 92% from the previous session’s volume of 4,333,419 shares.The stock last traded at $22.83 and had previously closed at $22.64.
BHGE has been the topic of a number of recent analyst reports. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. Jefferies Financial Group set a $32.00 price objective on Baker Hughes A GE and gave the company a “buy” rating in a research report on Thursday, June 6th. Bank of America cut their price objective on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Wells Fargo & Co cut their price objective on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $34.87.
The company has a market cap of $23.50 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 3.07 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $22.86 and a two-hundred day moving average price of $24.37.
Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 earnings per share. Equities analysts anticipate that Baker Hughes A GE Co will post 0.98 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. Baker Hughes A GE’s dividend payout ratio (DPR) is currently 109.09%.
In related news, CEO Lorenzo Simonelli acquired 15,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $20.61 per share, for a total transaction of $309,150.00. Following the purchase, the chief executive officer now directly owns 113,368 shares in the company, valued at $2,336,514.48. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Uwem Ukpong sold 16,686 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $23.62, for a total value of $394,123.32. Following the transaction, the insider now owns 271 shares in the company, valued at approximately $6,401.02. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Baker Hughes A GE by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 48,415,177 shares of the company’s stock worth $1,192,466,000 after buying an additional 235,028 shares during the period. BlackRock Inc. boosted its stake in shares of Baker Hughes A GE by 18.8% in the 2nd quarter. BlackRock Inc. now owns 45,244,203 shares of the company’s stock worth $1,114,366,000 after buying an additional 7,154,384 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Baker Hughes A GE by 2.9% in the 2nd quarter. Invesco Ltd. now owns 14,356,911 shares of the company’s stock worth $353,610,000 after buying an additional 406,655 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Baker Hughes A GE by 24.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock worth $325,427,000 after buying an additional 2,301,773 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Baker Hughes A GE by 14.1% in the second quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock valued at $155,639,000 after purchasing an additional 778,490 shares during the last quarter. Hedge funds and other institutional investors own 48.39% of the company’s stock.
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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