Investors Sell Baker Hughes Inc. (BHI) on Strength (BHI)
Investors sold shares of Baker Hughes Inc. (NYSE:BHI) on strength during trading hours on Friday. $33.45 million flowed into the stock on the tick-up and $62.02 million flowed out of the stock on the tick-down, for a money net flow of $28.57 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 $1.15 for the day and closed at $49.76
Several equities analysts have recently weighed in on BHI shares. Vetr upgraded shares of Baker Hughes from a “sell” rating to a “buy” rating and set a $51.17 price objective for the company in a research report on Monday, June 13th. Deutsche Bank AG reduced their price objective on shares of Baker Hughes from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, May 2nd. KeyCorp restated a “buy” rating on shares of Baker Hughes in a research report on Monday, April 25th. Morgan Stanley raised their target price on shares of Baker Hughes from $47.00 to $53.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Finally, Citigroup Inc. decreased their target price on shares of Baker Hughes from $57.00 to $53.00 and set a “buy” rating for the company in a report on Monday, April 25th. Two equities research 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. Baker Hughes presently has an average rating of “Buy” and a consensus price target of $53.39.
The firm’s market cap is $21.29 billion. The firm has a 50 day moving average price of $45.69 and a 200-day moving average price of $44.90.
Baker Hughes (NYSE:BHI) last released its quarterly earnings results 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 in the prior year, the business posted ($0.14) earnings per share. The business earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.34 billion. The firm’s revenue was down 39.3% on a year-over-year basis. Analysts forecast that Baker Hughes Inc. will post ($2.21) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, August 4th.
In other news, VP Khalid M. Nouh sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $46.15, for a total transaction of $784,550.00. Following the sale, the vice president now owns 2,885 shares in the company, valued at approximately $133,142.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Alan R. Crain, Jr. sold 1,226 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.00, for a total value of $58,848.00. Following the sale, the senior vice president now owns 50,159 shares in the company, valued at approximately $2,407,632. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. BlackRock Advisors LLC boosted 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 worth $61,455,000 after buying an additional 51,014 shares in the last quarter. State of Tennessee Treasury Department boosted 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 worth $30,764,000 after buying an additional 184,362 shares in the last quarter. Flippin Bruce & Porter Inc. boosted its stake in shares of 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. boosted its stake in shares of 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. Finally, Trexquant Investment LP bought a new stake in shares of Baker Hughes during the fourth quarter worth about $2,333,000.
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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