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

Several research firms have issued reports on BHI. Vetr downgraded Baker Hughes from a “buy” rating to a “hold” rating and set a $49.02 target price on the stock. in a research report on Monday, May 2nd. Deutsche Bank AG lowered their price objective on Baker Hughes from $44.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, May 2nd. Argus increased their price objective on Baker Hughes from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 price objective on shares of Baker Hughes in a research report on Friday, July 29th. Finally, FBR & Co reiterated a “buy” rating on shares of Baker Hughes in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Baker Hughes presently has an average rating of “Buy” and a consensus target price of $53.39.

The company has a 50 day moving average price of $45.69 and a 200-day moving average price of $44.90. The company’s market capitalization is $21.29 billion.

Baker Hughes (NYSE:BHI) last issued its earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $0.31. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company earned ($0.14) EPS. Baker Hughes’s quarterly revenue was down 39.3% on a year-over-year basis. On average, analysts expect that Baker Hughes Inc. will post ($2.21) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be paid 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 dividend yield of 1.37%.

In other news, VP Khalid M. Nouh sold 17,000 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $46.15, for a total transaction of $784,550.00. Following the transaction, the vice president now directly owns 2,885 shares in the company, valued at $133,142.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William D. Marsh sold 1,500 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $49.10, for a total transaction of $73,650.00. Following the transaction, the vice president now owns 7,728 shares in the company, valued at $379,444.80. The disclosure for this sale can be found here.

Several institutional investors have added to or reduced their stakes in the stock. BlackRock Advisors LLC increased its position in 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 worth $61,455,000 after buying an additional 51,014 shares in the last quarter. State of Tennessee Treasury Department increased its position in 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 worth $30,764,000 after buying an additional 184,362 shares in the last quarter. Principal Financial Group Inc. increased its position in 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 in the last quarter. Trexquant Investment LP acquired a new position in Baker Hughes during the fourth quarter worth about $2,333,000. Finally, I.G. Investment Management LTD. increased its position in Baker Hughes by 3.5% in the fourth quarter. I.G. Investment Management LTD. now owns 45,284 shares of the oilfield services provider’s stock worth $2,090,000 after buying an additional 1,522 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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