Deprince Race & Zollo Inc. bought a new position in Baker Hughes Inc. (NYSE:BHI) during the second quarter, Holdings Channel reports. The fund bought 8,717 shares of the oilfield services provider’s stock, valued at approximately $393,000.
A number of other institutional investors have also recently modified their holdings of BHI. Citizens Financial Group Inc RI boosted its stake in shares of 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 during the last quarter. Indiana Trust & Investment Management CO bought a new stake in shares of Baker Hughes during the second quarter valued at $203,000. Creative Planning boosted its stake in shares of Baker Hughes by 27.4% in the second quarter. Creative Planning now owns 4,627 shares of the oilfield services provider’s stock valued at $209,000 after buying an additional 996 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Baker Hughes by 17.4% in the second quarter. Alpha Windward LLC now owns 4,646 shares of the oilfield services provider’s stock valued at $210,000 after buying an additional 689 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Baker Hughes during the second quarter valued at $230,000. 89.30% of the stock is owned by institutional investors and hedge funds.
Baker Hughes Inc. (NYSE:BHI) traded up 1.05% during trading on Friday, hitting $52.84. The stock had a trading volume of 4,719,466 shares. The company has a 50-day moving average price of $50.13 and a 200-day moving average price of $46.75. The company’s market cap is $22.61 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $56.81.
Baker Hughes (NYSE:BHI) last issued its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.31. Baker Hughes had a negative return on equity of 4.46% and a negative net margin of 25.14%. The company earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was down 39.3% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes Inc. will post ($2.21) EPS for the current year.
BHI has been the subject of several recent research reports. FBR & Co reissued a “buy” rating on shares of Baker Hughes in a research note on Friday, July 29th. BMO Capital Markets reissued a “buy” rating and issued a $50.00 price target on shares of Baker Hughes in a research note on Friday, July 29th. Citigroup Inc. reissued a “buy” rating on shares of Baker Hughes in a research note on Saturday, June 25th. Vetr raised Baker Hughes from a “sell” rating to a “buy” rating and set a $51.17 price target for the company in a research note on Monday, June 13th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Baker Hughes in a research note on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.09.
In other news, SVP Alan R. Crain, Jr. sold 25,999 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $50.93, for a total value of $1,324,129.07. Following the sale, the senior vice president now directly owns 24,160 shares of the company’s stock, valued at approximately $1,230,468.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Alan J. Keifer sold 17,434 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $52.70, for a total value of $918,771.80. Following the completion of the sale, the vice president now directly owns 41,374 shares in the company, valued at $2,180,409.80. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
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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