Shares of Baker Hughes Inc. (NYSE:BHI) shot up 1.9% during mid-day trading on Friday . The company traded as high as $49.93 and last traded at $49.51, with a volume of 2,209,310 shares. The stock had previously closed at $48.61.

Several analysts have weighed in on BHI shares. Vetr cut shares of Baker Hughes from a “strong-buy” rating to a “buy” rating and set a $48.83 price objective for the company. in a research note on Monday, April 25th. Iberia Capital cut shares of Baker Hughes from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $53.00 to $50.00 in a research note on Thursday, April 28th. Credit Suisse Group AG reiterated a “buy” rating on shares of Baker Hughes in a research note on Tuesday, June 28th. Jefferies Group upgraded shares of Baker Hughes from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $38.00 to $41.00 in a research note on Monday, July 11th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Baker Hughes in a research note on Saturday, June 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.39.

The stock’s market capitalization is $21.29 billion. The stock has a 50 day moving average of $45.62 and a 200-day moving average of $44.83.

Baker Hughes (NYSE:BHI) last announced its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $0.31. The company earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.34 billion. The company’s quarterly revenue was down 39.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. Equities research analysts expect that Baker Hughes Inc. will post ($2.16) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a $0.17 dividend. The ex-dividend date is Thursday, August 4th. This represents a $0.68 annualized dividend and a yield of 1.37%.

In related news, SVP Alan R. Crain, Jr. sold 20,000 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $44.80, for a total value of $896,000.00. Following the completion of the sale, the senior vice president now directly owns 58,254 shares in the company, valued at approximately $2,609,779.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Khalid M. Nouh sold 17,000 shares of the stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $46.15, for a total value of $784,550.00. Following the completion of the sale, the vice president now owns 2,885 shares of the company’s stock, valued at $133,142.75. The disclosure for this sale can be found here.

A number of hedge funds recently made changes to their positions in BHI. BlackRock Advisors LLC increased its stake in shares of Baker Hughes by 4.0% in the fourth quarter. BlackRock Advisors LLC now owns 1,331,654 shares of the oilfield services provider’s stock valued at $61,455,000 after buying an additional 51,014 shares in the last quarter. State of Tennessee Treasury Department increased its stake in shares of Baker Hughes by 38.2% in the fourth quarter. State of Tennessee Treasury Department now owns 666,614 shares of the oilfield services provider’s stock valued at $30,764,000 after buying an additional 184,362 shares in the last quarter. Principal Financial Group Inc. increased 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 valued at $26,262,000 after buying an additional 11,417 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Baker Hughes by 13.0% in the fourth quarter. Schroder Investment Management Group now owns 253,518 shares of the oilfield services provider’s stock valued at $11,699,000 after buying an additional 29,140 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Baker Hughes by 3.5% in the fourth quarter. American International Group Inc. now owns 202,876 shares of the oilfield services provider’s stock valued at $9,362,000 after buying an additional 6,862 shares in 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 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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