Traders Buy Large Volume of Put Options on Baker Hughes, a GE (BHGE)

Baker Hughes, a GE company (NYSE:BHGE) was the recipient of unusually large options trading activity on Thursday. Investors bought 16,368 put options on the company. This represents an increase of 636% compared to the typical volume of 2,225 put options.

A number of brokerages have recently commented on BHGE. JPMorgan Chase & Co. reduced their price target on shares of Baker Hughes, a GE from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Barclays cut their target price on shares of Baker Hughes, a GE from $41.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. BMO Capital Markets cut their target price on shares of Baker Hughes, a GE from $37.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Morgan Stanley cut their target price on shares of Baker Hughes, a GE from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Finally, Jefferies Group set a $31.00 target price on shares of Baker Hughes, a GE and gave the company a “hold” rating in a research report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $37.90.

Shares of Baker Hughes, a GE opened at $35.67 on Friday, Marketbeat reports. The company has a current ratio of 2.05, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. Baker Hughes, a GE has a 1-year low of $25.53 and a 1-year high of $40.82. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 68.60, a PEG ratio of 5.52 and a beta of 0.72.

Baker Hughes, a GE (NYSE:BHGE) last issued its quarterly earnings results on Friday, April 20th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Baker Hughes, a GE had a negative net margin of 1.28% and a positive return on equity of 0.25%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts predict that Baker Hughes, a GE will post 0.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 22nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, May 21st. Baker Hughes, a GE’s dividend payout ratio is currently 138.46%.

In other news, insider William D. Marsh sold 6,543 shares of Baker Hughes, a GE stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $35.82, for a total value of $234,370.26. Following the completion of the sale, the insider now directly owns 22,663 shares in the company, valued at $811,788.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria C. Borras sold 19,571 shares of Baker Hughes, a GE stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $36.97, for a total transaction of $723,539.87. Following the completion of the sale, the chief executive officer now owns 3,042 shares of the company’s stock, valued at $112,462.74. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

A number of large investors have recently modified their holdings of BHGE. National Pension Service lifted its holdings in shares of Baker Hughes, a GE by 23.2% in the fourth quarter. National Pension Service now owns 469,330 shares of the company’s stock worth $14,850,000 after buying an additional 88,403 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Baker Hughes, a GE by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,065,351 shares of the company’s stock worth $65,348,000 after buying an additional 98,233 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Baker Hughes, a GE in the fourth quarter worth $306,000. State of Alaska Department of Revenue lifted its holdings in shares of Baker Hughes, a GE by 119.2% in the fourth quarter. State of Alaska Department of Revenue now owns 54,249 shares of the company’s stock worth $1,715,000 after buying an additional 29,499 shares in the last quarter. Finally, MHI Funds LLC purchased a new position in shares of Baker Hughes, a GE in the fourth quarter worth $175,000. 94.76% of the stock is currently owned by institutional investors and hedge funds.

About Baker Hughes, a GE

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 for onshore and offshore operations.

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