Baker Hughes Inc. (NYSE:BHI) SVP Alan R. Crain, Jr. sold 3,000 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $53.00, for a total value of $159,000.00. Following the sale, the senior vice president now owns 21,160 shares in the company, valued at approximately $1,121,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Baker Hughes Inc. (NYSE:BHI) opened at 52.20 on Thursday. The firm’s market cap is $22.34 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $56.81. The firm has a 50-day moving average price of $50.18 and a 200-day moving average price of $46.91.
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 Zacks’ consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm posted ($0.14) EPS. Baker Hughes’s revenue was down 39.3% on a year-over-year basis. Analysts predict that Baker Hughes Inc. will post ($2.21) EPS for the current fiscal year.
BHI has been the topic of a number of research analyst reports. Nomura boosted their price target on Baker Hughes from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Citigroup Inc. restated a “buy” rating on shares of Baker Hughes in a research note on Saturday, June 25th. Vetr upgraded Baker Hughes from a “buy” rating to a “strong-buy” rating and set a $51.07 price target on the stock in a research note on Monday, June 27th. Scotiabank restated a “sector outperform” rating and set 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 initiated coverage on Baker Hughes in a report on Friday, September 30th. They set a “hold” rating and a $52.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $53.24.
Hedge funds and other institutional investors have recently modified their holdings of the company. AXA boosted its position in shares of Baker Hughes by 1.2% in the first quarter. AXA now owns 107,300 shares of the oilfield services provider’s stock worth $4,703,000 after buying an additional 1,260 shares in the last quarter. BP Capital Fund Advisors LLC boosted its position in shares of Baker Hughes by 2.4% in the first quarter. BP Capital Fund Advisors LLC now owns 98,298 shares of the oilfield services provider’s stock worth $4,308,000 after buying an additional 2,262 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of Baker Hughes by 6.3% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 11,800 shares of the oilfield services provider’s stock worth $517,000 after buying an additional 700 shares in the last quarter. State Street Corp boosted its position in shares of Baker Hughes by 5.8% in the first quarter. State Street Corp now owns 21,955,686 shares of the oilfield services provider’s stock worth $962,312,000 after buying an additional 1,206,147 shares in the last quarter. Finally, Stockman Asset Management boosted its position in shares of Baker Hughes by 37.4% in the first quarter. Stockman Asset Management now owns 42,031 shares of the oilfield services provider’s stock worth $1,842,000 after buying an additional 11,446 shares in the last quarter. Institutional investors own 89.30% 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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