Baker Hughes Inc. (BHI) Shares Down 0.1%
Baker Hughes Inc. (NYSE:BHI)’s share price dropped 0.1% on Friday . The company traded as low as $43.35 and last traded at $43.48, with a volume of 1,598,884 shares traded. The stock had previously closed at $43.54.
BHI has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Baker Hughes in a research report on Friday, April 15th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $47.50 price objective on shares of Baker Hughes in a research report on Monday, May 9th. Howard Weil cut their price objective on shares of Baker Hughes from $62.00 to $49.00 in a research report on Monday, March 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Baker Hughes in a research report on Sunday, March 13th. Finally, Jefferies Group cut shares of Baker Hughes from a “buy” rating to an “underperform” rating and cut their price objective for the company from $53.00 to $34.00 in a research report on Friday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.80.
The stock has a 50-day moving average price of $45.71 and a 200-day moving average price of $44.37. The company’s market capitalization is $19.13 billion.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings data on Tuesday, May 3rd. The oilfield services provider reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by $1.24. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.85 billion. The business’s revenue was down 41.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. On average, equities analysts anticipate that Baker Hughes Inc. will post ($2.11) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 1st were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.56%.
In related news, SVP Alan R. Crain, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $44.80, for a total transaction of $896,000.00. Following the completion of the sale, the senior vice president now owns 58,254 shares in the company, valued at $2,609,779.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP William D. Marsh sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $49.10, for a total transaction of $73,650.00. Following the sale, the vice president now owns 7,728 shares of the company’s stock, valued at approximately $379,444.80. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. J. Goldman & Co LP acquired a new position in Baker Hughes during the fourth quarter valued at $2,036,000. Vanguard Group Inc. increased its position in Baker Hughes by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 26,143,084 shares of the oilfield services provider’s stock valued at $1,206,504,000 after buying an additional 511,309 shares during the last quarter. Gabelli Securities Inc. increased its position in Baker Hughes by 104.3% in the fourth quarter. Gabelli Securities Inc. now owns 204,916 shares of the oilfield services provider’s stock valued at $9,457,000 after buying an additional 104,622 shares during the last quarter. Profund Advisors LLC increased its position in Baker Hughes by 3.5% in the fourth quarter. Profund Advisors LLC now owns 30,910 shares of the oilfield services provider’s stock valued at $1,426,000 after buying an additional 1,058 shares during the last quarter. Finally, GAM Holding AG increased its position in Baker Hughes by 3.9% in the fourth quarter. GAM Holding AG now owns 59,334 shares of the oilfield services provider’s stock valued at $2,738,000 after buying an additional 2,223 shares during the last quarter.
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals, and process and pipeline services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.