Baker Hughes A GE (NYSE:BHGE) Sees Large Volume Increase
Baker Hughes A GE Co (NYSE:BHGE) shares saw unusually-high trading volume on Friday . Approximately 365,533 shares traded hands during 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 research analyst reports. Jefferies Financial Group set a $32.00 target price on Baker Hughes A GE and gave the stock a “buy” rating in a report on Thursday, June 6th. Bank of America decreased their price target 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 decreased their price target 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. Credit Suisse Group increased their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.87.
The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 3.07 and a beta of 0.96. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The stock has a 50-day simple moving average of $22.86 and a 200 day simple moving average of $24.37.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given 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 yield of 3.17%. Baker Hughes A GE’s payout ratio is presently 109.09%.
In other Baker Hughes A GE news, insider Uwem Ukpong sold 16,686 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $23.62, for a total transaction of $394,123.32. Following the completion of the sale, the insider now directly owns 271 shares in the company, valued at approximately $6,401.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $20.75 per share, with a total value of $207,500.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $311,250. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BHGE. Commonwealth Bank of Australia boosted its position in Baker Hughes A GE by 63.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Baker Hughes A GE during the 1st quarter valued at about $33,000. Bremer Bank National Association acquired a new stake in shares of Baker Hughes A GE during the 1st quarter valued at about $38,000. Perkins Coie Trust Co lifted its holdings in shares of Baker Hughes A GE by 38.3% during the 2nd quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock valued at $40,000 after buying an additional 453 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC acquired a new stake in shares of Baker Hughes A GE during the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 48.39% of the company’s stock.
Baker Hughes A GE Company Profile (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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