Baker Hughes Inc. (NYSE:BHI) had its price target raised by KeyCorp from $63.00 to $70.00 in a report issued on Wednesday. The firm currently has an “overweight” rating on the oilfield services provider’s stock. KeyCorp’s target price points to a potential upside of 8.81% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Baker Hughes from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, October 14th. Citigroup Inc. raised their price target on shares of Baker Hughes from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, October 11th. Argus raised their price target on shares of Baker Hughes from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Guggenheim reissued a “buy” rating on shares of Baker Hughes in a research report on Thursday, November 10th. Finally, DA Davidson reissued a “buy” rating on shares of Baker Hughes in a research report on Monday, November 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.63.

Analyst Recommendations for Baker Hughes (NYSE:BHI)

Baker Hughes (NYSE:BHI) traded up 6.37% on Wednesday, reaching $64.33. 6,385,556 shares of the company’s stock traded hands. The stock has a 50-day moving average of $56.65 and a 200 day moving average of $49.86. Baker Hughes has a 52 week low of $37.58 and a 52 week high of $64.72. The firm’s market capitalization is $27.66 billion.

Baker Hughes (NYSE:BHI) last issued its quarterly earnings data on Tuesday, October 25th. The oilfield services provider reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.29. Baker Hughes had a negative net margin of 30.97% and a negative return on equity of 5.07%. The company earned $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company earned ($0.05) earnings per share. Baker Hughes’s revenue for the quarter was down 37.8% on a year-over-year basis. On average, equities analysts expect that Baker Hughes will post ($1.61) EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Baker Hughes’s dividend payout ratio is -8.89%.

TRADEMARK VIOLATION WARNING: “Baker Hughes Inc. (BHI) PT Raised to $70.00 at KeyCorp” was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright law. The correct version of this piece can be viewed at http://www.dailypolitical.com/2016/11/30/baker-hughes-inc-bhi-pt-raised-to-70-00-at-keycorp.html.

In related news, SVP Alan R. Crain, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $53.00, for a total value of $159,000.00. Following the completion of the sale, the senior vice president now directly owns 21,160 shares in the company, valued at approximately $1,121,480. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Belgacem Chariag sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $58.09, for a total value of $871,350.00. Following the completion of the sale, the vice president now owns 76,768 shares of the company’s stock, valued at $4,459,453.12. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

A number of large investors have recently bought and sold shares of BHI. Viking Fund Management LLC raised its stake in Baker Hughes by 19.6% in the third quarter. Viking Fund Management LLC now owns 550,000 shares of the oilfield services provider’s stock valued at $27,759,000 after buying an additional 90,000 shares during the period. Personal Capital Advisors Corp raised its stake in Baker Hughes by 9.6% in the second quarter. Personal Capital Advisors Corp now owns 335,257 shares of the oilfield services provider’s stock valued at $15,130,000 after buying an additional 29,410 shares during the period. Retirement Systems of Alabama raised its stake in Baker Hughes by 25.0% in the second quarter. Retirement Systems of Alabama now owns 844,653 shares of the oilfield services provider’s stock valued at $38,119,000 after buying an additional 169,058 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Baker Hughes by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 376,886 shares of the oilfield services provider’s stock valued at $17,009,000 after buying an additional 6,894 shares during the period. Finally, California State Teachers Retirement System raised its stake in Baker Hughes by 0.6% in the second quarter. California State Teachers Retirement System now owns 955,164 shares of the oilfield services provider’s stock valued at $43,107,000 after buying an additional 5,665 shares during the period. Hedge funds and other institutional investors own 89.33% of the company’s stock.

About Baker Hughes

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.

5 Day Chart for NYSE:BHI

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.