Stonebridge Capital Management Inc. bought a new position in shares of Baker Hughes Inc. (NYSE:BHI) during the second quarter, Holdings Channel reports. The fund bought 6,950 shares of the oilfield services provider’s stock, valued at approximately $313,000.
Other large investors have also recently bought and sold shares of the company. Aperio Group LLC boosted its stake in Baker Hughes by 25.2% in the first quarter. Aperio Group LLC now owns 156,228 shares of the oilfield services provider’s stock worth $6,847,000 after buying an additional 31,430 shares during the last quarter. Virginia Retirement System purchased a new stake in Baker Hughes during the first quarter worth approximately $5,030,000. Morris Capital Advisors LLC purchased a new stake in Baker Hughes during the first quarter worth approximately $308,000. Ngam Advisors L.P. boosted its stake in Baker Hughes by 0.5% in the first quarter. Ngam Advisors L.P. now owns 24,478 shares of the oilfield services provider’s stock worth $1,073,000 after buying an additional 126 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Baker Hughes by 1.0% in the first quarter. Prudential Financial Inc. now owns 555,864 shares of the oilfield services provider’s stock worth $24,364,000 after buying an additional 5,280 shares during the last quarter. 89.30% of the stock is owned by institutional investors.
Shares of Baker Hughes Inc. (NYSE:BHI) traded up 0.78% on Thursday, hitting $50.21. 5,242,391 shares of the company were exchanged. The company has a 50-day moving average price of $49.95 and a 200 day moving average price of $46.50. The firm’s market cap is $21.48 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $58.23.
Baker Hughes (NYSE:BHI) last issued its quarterly earnings data 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 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%. Baker Hughes’s revenue was down 39.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. Analysts predict that Baker Hughes Inc. will post ($2.21) EPS for the current fiscal year.
A number of research analysts have issued reports on BHI shares. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Baker Hughes in a report on Thursday, June 2nd. Vetr raised shares of Baker Hughes from a “sell” rating to a “hold” rating and set a $44.75 price target for the company in a report on Monday, June 6th. Citigroup Inc. reaffirmed a “buy” rating on shares of Baker Hughes in a report on Saturday, June 25th. Jefferies Group raised shares of Baker Hughes from an “underperform” rating to a “hold” rating and raised their price target for the stock from $38.00 to $41.00 in a report on Monday, July 11th. Finally, GMP Securities cut shares of Baker Hughes from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $53.12.
In other Baker Hughes news, VP Alan J. Keifer sold 17,434 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $52.70, for a total transaction of $918,771.80. Following the sale, the vice president now directly owns 41,374 shares of the company’s stock, valued at approximately $2,180,409.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alan R. Crain, Jr. sold 1,226 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.00, for a total transaction of $58,848.00. Following the sale, the senior vice president now directly owns 50,159 shares in the company, valued at $2,407,632. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
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.
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