Insider Selling: Baker Hughes Inc. (BHI) SVP Sells 3,000 Shares of Stock
Baker Hughes Inc. (NYSE:BHI) SVP Alan R. Crain, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $53.00, for a total transaction of $159,000.00. Following the completion of the sale, the senior vice president now directly owns 21,160 shares of the company’s stock, valued at approximately $1,121,480. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Baker Hughes Inc. (NYSE:BHI) opened at 52.52 on Wednesday. The stock has a 50 day moving average of $50.17 and a 200 day moving average of $46.87. The firm’s market cap is $22.47 billion. Baker Hughes Inc. has a 1-year low of $37.58 and a 1-year high of $56.81.
Baker Hughes (NYSE:BHI) last posted 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 analyst estimates of $2.34 billion. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The company’s revenue was down 39.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. Equities research analysts anticipate that Baker Hughes Inc. will post ($2.21) earnings per share for the current fiscal year.
Several analysts have recently weighed in on BHI shares. Nomura increased their price target on shares of Baker Hughes from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, August 16th. Citigroup Inc. reissued a “buy” rating on shares of Baker Hughes in a research note on Saturday, June 25th. Vetr raised shares of Baker Hughes from a “buy” rating to a “strong-buy” rating and set a $51.07 price target for the company in a research note on Monday, June 27th. Scotiabank reissued a “sector outperform” rating and issued a $56.00 price target (up previously from $49.00) on shares of Baker Hughes in a research note on Sunday, July 31st. Finally, Loop Capital started coverage on shares of Baker Hughes in a research note on Friday, September 30th. They issued a “hold” rating and a $52.00 price target for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $53.24.
Hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC boosted its stake in Baker Hughes by 859.6% in the second quarter. MCF Advisors LLC now owns 2,399 shares of the oilfield services provider’s stock valued at $108,000 after buying an additional 2,149 shares in the last quarter. LVM Capital Management Ltd. MI bought a new stake in Baker Hughes during the third quarter valued at about $201,000. Citizens Financial Group Inc RI boosted its stake in Baker Hughes by 14.5% in the first quarter. Citizens Financial Group Inc RI now owns 2,837 shares of the oilfield services provider’s stock valued at $125,000 after buying an additional 360 shares in the last quarter. Partners Capital Investment Group LLC bought a new stake in Baker Hughes during the second quarter valued at about $144,000. Finally, Cypress Capital Management LLC WY bought a new stake in Baker Hughes during the second quarter valued at about $168,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Baker Hughes Company Profile
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.
Receive News & Ratings for Baker Hughes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.