Traders Sell Shares of Baker Hughes Inc. (BHI) on Strength (BHI)
Traders sold shares of Baker Hughes Inc. (NYSE:BHI) on strength during trading hours on Tuesday. $24.30 million flowed into the stock on the tick-up and $48.15 million flowed out of the stock on the tick-down, for a money net flow of $23.85 million out of the stock. Of all stocks tracked, Baker Hughes had the 0th highest net out-flow for the day. Baker Hughes traded up $0.56 for the day and closed at $51.20
Several research analysts have weighed in on BHI shares. Morgan Stanley lifted their target price on 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. reduced their target price on Baker Hughes from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, April 25th. Vetr upgraded 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. Scotiabank reiterated a “sector outperform” rating and set a $56.00 target price (up from $49.00) on shares of Baker Hughes in a report on Sunday, July 31st. Finally, Nomura lifted their target price on Baker Hughes from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Baker Hughes presently has an average rating of “Buy” and a consensus target price of $53.55.
The company’s 50-day moving average price is $46.11 and its 200 day moving average price is $45.08. The stock’s market capitalization is $21.91 billion.
Baker Hughes (NYSE:BHI) last released its quarterly earnings data on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.31. During the same period last year, the company earned ($0.14) EPS. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.34 billion. The company’s quarterly revenue was down 39.3% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes Inc. will post ($2.21) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%.
In related news, VP William D. Marsh sold 1,500 shares of Baker Hughes stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $49.10, for a total value of $73,650.00. Following the completion of the transaction, the vice president now directly owns 7,728 shares in the company, valued at approximately $379,444.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Khalid M. Nouh sold 17,000 shares of Baker Hughes 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 completion of the transaction, 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 and institutional investors have added to or reduced their stakes in BHI. Flippin Bruce & Porter Inc. raised its position in Baker Hughes by 58.2% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 43,468 shares of the oilfield services provider’s stock worth $2,006,000 after buying an additional 15,995 shares in the last quarter. I.G. Investment Management LTD. raised 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. Connor Clark & Lunn Investment Management Ltd. raised its position in Baker Hughes by 36.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,450 shares of the oilfield services provider’s stock worth $2,098,000 after buying an additional 12,050 shares in the last quarter. Trexquant Investment LP acquired a new position in Baker Hughes during the fourth quarter worth $2,333,000. Finally, Principal Financial Group Inc. raised 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.
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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