Baker Hughes A GE Target of Unusually Large Options Trading (NYSE:BHGE)

Baker Hughes A GE Co (NYSE:BHGE) saw unusually large options trading on Thursday. Investors acquired 2,861 call options on the stock. This is an increase of approximately 922% compared to the average volume of 280 call options.

In other news, insider Uwem Ukpong sold 16,686 shares of Baker Hughes A GE stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $23.62, for a total transaction of $394,123.32. Following the sale, the insider now owns 271 shares of the company’s stock, valued at approximately $6,401.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. OLD Point Trust & Financial Services N A raised its position in shares of Baker Hughes A GE by 0.6% during the first quarter. OLD Point Trust & Financial Services N A now owns 68,975 shares of the company’s stock worth $1,912,000 after acquiring an additional 418 shares during the last quarter. Perkins Coie Trust Co increased its holdings in Baker Hughes A GE by 38.3% in the second quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Baker Hughes A GE by 63.1% in the second quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares during the last quarter. Securian Asset Management Inc increased its holdings in Baker Hughes A GE by 1.1% in the first quarter. Securian Asset Management Inc now owns 52,470 shares of the company’s stock valued at $1,454,000 after purchasing an additional 564 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in Baker Hughes A GE by 1.7% in the first quarter. Wealthfront Advisers LLC now owns 33,916 shares of the company’s stock valued at $940,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Shares of BHGE opened at $20.71 on Friday. The stock has a fifty day moving average price of $24.24 and a two-hundred day moving average price of $24.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.60. Baker Hughes A GE has a 52-week low of $20.09 and a 52-week high of $34.49. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 3.00 and a beta of 0.91.

Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts predict that Baker Hughes A GE will post 0.98 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.72 annualized dividend and a yield of 3.48%. Baker Hughes A GE’s payout ratio is 109.09%.

Several brokerages have recently weighed in on BHGE. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a report on Thursday, June 20th. Wells Fargo & Co decreased their price target on Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. Royal Bank of Canada decreased their price target on Baker Hughes A GE to $33.00 and set an “average” rating on the stock in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group set a $32.00 price target on Baker Hughes A GE and gave the company a “buy” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.44.

Baker Hughes A GE Company Profile

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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