Shares of Baker Hughes Inc. (NYSE:BHI) have been given a consensus rating of “Buy” by the thirty-five brokerages that are currently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, nineteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $53.23.
A number of analysts have weighed in on BHI shares. Citigroup Inc. boosted their price target on Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $50.00 price target on shares of Baker Hughes in a research report on Friday, July 29th. Scotiabank reaffirmed a “sector outperform” rating and issued a $56.00 price target (up previously from $49.00) on shares of Baker Hughes in a research report on Sunday, July 31st. Vetr cut Baker Hughes from a “hold” rating to a “sell” rating and set a $44.75 price target for the company. in a research report on Tuesday, May 31st. Finally, Atlantic Securities started coverage on Baker Hughes in a research report on Monday, August 8th. They set an “underweight” rating and a $37.00 price objective for the company.
In other news, VP Alan J. Keifer sold 17,434 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $52.70, for a total value of $918,771.80. Following the transaction, the vice president now owns 41,374 shares of the company’s stock, valued at approximately $2,180,409.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Alan R. Crain, Jr. sold 25,999 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $50.93, for a total value of $1,324,129.07. Following the completion of the transaction, the senior vice president now directly owns 24,160 shares in the company, valued at approximately $1,230,468.80. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Baker Hughes during the fourth quarter worth approximately $174,562,000. Chevy Chase Trust Holdings Inc. boosted its stake in Baker Hughes by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 369,992 shares of the oilfield services provider’s stock worth $16,217,000 after buying an additional 10,522 shares in the last quarter. DnB Asset Management AS boosted its stake in Baker Hughes by 47.9% in the first quarter. DnB Asset Management AS now owns 37,680 shares of the oilfield services provider’s stock worth $1,652,000 after buying an additional 12,200 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in Baker Hughes by 9.1% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 106,607 shares of the oilfield services provider’s stock worth $4,673,000 after buying an additional 8,862 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Baker Hughes by 39.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,209 shares of the oilfield services provider’s stock worth $1,045,000 after buying an additional 6,793 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.
Shares of Baker Hughes (NYSE:BHI) opened at 50.19 on Monday. Baker Hughes has a one year low of $37.58 and a one year high of $58.23. The company has a 50 day moving average price of $49.68 and a 200 day moving average price of $46.34. The company’s market cap is $21.48 billion.
Baker Hughes (NYSE:BHI) last announced its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.31. Baker Hughes had a negative return on equity of 4.46% and a negative net margin of 25.14%. The company earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the firm earned ($0.14) EPS. Baker Hughes’s quarterly revenue was down 39.3% on a year-over-year basis. Equities research analysts expect that Baker Hughes will post ($2.22) earnings per share for the current year.
About Baker Hughes
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.
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