Baker Hughes Inc. (BHI) Stock Price Down 4.3%
Baker Hughes Inc. (NYSE:BHI) was down 4.3% on Monday . The stock traded as low as $45.60 and last traded at $45.75, with a volume of 4,090,904 shares traded. The stock had previously closed at $47.83.
Several equities research analysts have recently weighed in on BHI shares. Morgan Stanley upped their target price on shares of Baker Hughes from $47.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Citigroup Inc. lowered their target price on shares of Baker Hughes from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, April 25th. Deutsche Bank AG lowered shares of Baker Hughes from a “buy” rating to a “hold” rating and lowered their target price for the stock from $78.00 to $43.00 in a report on Wednesday, April 6th. Vetr raised shares of Baker Hughes from a “buy” rating to a “strong-buy” rating and set a $51.07 target price on the stock in a report on Monday, June 27th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $56.00 price target (up previously from $49.00) on shares of Baker Hughes in a research report on Sunday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $54.67.
The stock’s 50 day moving average is $45.28 and its 200 day moving average is $44.50. The firm’s market capitalization is $20.04 billion.
Baker Hughes (NYSE:BHI) last issued its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.31. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Baker Hughes’s revenue was down 39.3% on a year-over-year basis. On average, analysts expect that Baker Hughes Inc. will post ($2.05) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%.
In related news, VP William D. Marsh sold 1,500 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Khalid M. Nouh sold 17,000 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $46.15, for a total value of $784,550.00. Following the sale, the vice president now directly owns 2,885 shares in the company, valued at approximately $133,142.75. The disclosure for this sale can be found here.
Other hedge funds recently modified their holdings of the company. J. Goldman & Co LP bought a new stake in shares of Baker Hughes during the fourth quarter worth about $2,036,000. Aberdeen Asset Management PLC UK boosted its stake in shares of Baker Hughes by 13.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 154,480 shares of the oilfield services provider’s stock worth $8,588,000 after buying an additional 18,851 shares during the period. ING Groep boosted its stake in shares of Baker Hughes by 293.6% in the third quarter. ING Groep now owns 58,949 shares of the oilfield services provider’s stock worth $3,067,000 after buying an additional 43,973 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Baker Hughes by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 569,053 shares of the oilfield services provider’s stock worth $26,262,000 after buying an additional 11,417 shares during the period. Finally, Advantus Capital Management Inc boosted its stake in shares of Baker Hughes by 2.2% in the fourth quarter. Advantus Capital Management Inc now owns 41,697 shares of the oilfield services provider’s stock worth $1,924,000 after buying an additional 900 shares during the period.
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.
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