Tudor Pickering Initiates Coverage on Baker Hughes Incorporated (BHI)

Equities research analysts at Tudor Pickering assumed coverage on shares of Baker Hughes Incorporated (NYSE:BHI) in a research report issued on Thursday. The firm set a “buy” rating on the oilfield services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. FBR & Co raised their price objective on Baker Hughes from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Zacks Investment Research downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. SunTrust Banks, Inc. began coverage on Baker Hughes in a report on Wednesday, January 18th. They issued a “hold” rating and a $66.00 price target for the company. BMO Capital Markets set a $69.00 price target on Baker Hughes and gave the stock a “buy” rating in a report on Thursday, January 12th. Finally, Susquehanna Bancshares Inc downgraded Baker Hughes from a “positive” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.89.

Analyst Recommendations for Baker Hughes (NYSE:BHI)

Baker Hughes (NYSE:BHI) opened at 58.99 on Thursday. Baker Hughes has a 12 month low of $38.16 and a 12 month high of $68.59. The stock’s market cap is $25.09 billion. The firm has a 50-day moving average price of $59.89 and a 200-day moving average price of $58.68.

Baker Hughes (NYSE:BHI) last issued its quarterly earnings data on Thursday, January 26th. The oilfield services provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.19. Baker Hughes had a negative net margin of 27.82% and a negative return on equity of 5.64%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the business earned ($0.21) EPS. Baker Hughes’s revenue for the quarter was down 29.0% compared to the same quarter last year. Equities research analysts expect that Baker Hughes will post $0.31 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. raised its position in Baker Hughes by 19.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 184,245 shares of the oilfield services provider’s stock worth $9,297,000 after buying an additional 30,000 shares during the period. BlackRock Japan Co. Ltd raised its position in Baker Hughes by 23.1% in the third quarter. BlackRock Japan Co. Ltd now owns 724,379 shares of the oilfield services provider’s stock worth $36,559,000 after buying an additional 136,034 shares during the period. Hsbc Holdings PLC raised its position in Baker Hughes by 2.0% in the third quarter. Hsbc Holdings PLC now owns 337,587 shares of the oilfield services provider’s stock worth $17,038,000 after buying an additional 6,668 shares during the period. State Street Corp raised its position in Baker Hughes by 2.2% in the fourth quarter. State Street Corp now owns 22,328,635 shares of the oilfield services provider’s stock worth $1,450,682,000 after buying an additional 472,771 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Baker Hughes by 14.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,355,774 shares of the oilfield services provider’s stock worth $68,426,000 after buying an additional 170,098 shares during the period. 91.03% of the stock is currently owned by institutional investors.

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 products and services for other businesses, including downstream chemicals, and process and pipeline services.

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