Baker Hughes Inc. (NYSE:BHI) had its price objective upped by research analysts at Royal Bank Of Canada from $50.00 to $59.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the oilfield services provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 12.34% from the company’s previous close.
Several other analysts have also commented on the company. Loop Capital began coverage on Baker Hughes in a report on Friday, September 30th. They issued a “hold” rating and a $52.00 price objective on the stock. Citigroup Inc. dropped their price objective on Baker Hughes from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Nomura raised their price objective on Baker Hughes from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Jefferies Group reissued a “hold” rating on shares of Baker Hughes in a report on Thursday, August 11th. Finally, Argus raised their price objective on Baker Hughes from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Baker Hughes has a consensus rating of “Buy” and a consensus target price of $53.24.
Baker Hughes (NYSE:BHI) opened at 52.52 on Monday. The company has a 50-day moving average price of $50.17 and a 200-day moving average price of $46.87. The stock’s market capitalization is $22.47 billion. Baker Hughes has a 12-month low of $37.58 and a 12-month high of $56.81.
Baker Hughes (NYSE:BHI) last issued its quarterly earnings data on Thursday, July 28th. The oilfield services provider reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The business earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 39.3% on a year-over-year basis. Analysts expect that Baker Hughes will post ($2.21) earnings per share for the current fiscal year.
In related news, SVP Alan R. Crain, Jr. sold 1,226 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.00, for a total value of $58,848.00. Following the completion of the sale, the senior vice president now directly owns 50,159 shares of the company’s stock, valued at approximately $2,407,632. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Alan J. Keifer sold 17,434 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $52.70, for a total value of $918,771.80. Following the completion of the sale, the vice president now directly owns 41,374 shares of the company’s stock, valued at $2,180,409.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC boosted its stake in shares of Baker Hughes by 859.6% in the second quarter. MCF Advisors LLC now owns 2,399 shares of the oilfield services provider’s stock worth $108,000 after buying an additional 2,149 shares during the period. Citizens Financial Group Inc RI increased its stake in Baker Hughes by 14.5% in the first quarter. Citizens Financial Group Inc RI now owns 2,837 shares of the oilfield services provider’s stock valued at $125,000 after buying an additional 360 shares in the last quarter. Partners Capital Investment Group LLC bought a new stake in Baker Hughes during the second quarter valued at approximately $144,000. Cypress Capital Management LLC WY bought a new stake in Baker Hughes during the second quarter valued at approximately $168,000. Finally, LVM Capital Management Ltd. MI bought a new stake in Baker Hughes during the third quarter valued at approximately $201,000. 89.30% of the stock is owned by hedge funds and other institutional investors.
Baker Hughes Company Profile
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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