Baker Hughes Incorporated (BHI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Baker Hughes Incorporated (NYSE:BHI) by 20.0% during the first quarter, Holdings Channel reports. The institutional investor owned 597,494 shares of the oilfield services provider’s stock after selling 149,761 shares during the period. Retirement Systems of Alabama owned 0.14% of Baker Hughes worth $35,742,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BHI. Nikko Asset Management Americas Inc. raised its stake in Baker Hughes by 19.4% in the third quarter. Nikko Asset Management Americas Inc. now owns 184,245 shares of the oilfield services provider’s stock valued at $9,297,000 after buying an additional 30,000 shares in the last quarter. Hsbc Holdings PLC raised its stake in Baker Hughes by 2.0% in the third quarter. Hsbc Holdings PLC now owns 337,587 shares of the oilfield services provider’s stock valued at $17,038,000 after buying an additional 6,668 shares in the last quarter. State Street Corp raised its stake in Baker Hughes by 2.2% in the fourth quarter. State Street Corp now owns 22,328,635 shares of the oilfield services provider’s stock valued at $1,450,682,000 after buying an additional 472,771 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Baker Hughes by 14.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,355,774 shares of the oilfield services provider’s stock valued at $68,426,000 after buying an additional 170,098 shares in the last quarter. Finally, DIAM Co. Ltd. raised its stake in Baker Hughes by 1.2% in the third quarter. DIAM Co. Ltd. now owns 42,403 shares of the oilfield services provider’s stock valued at $2,130,000 after buying an additional 489 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

Institutional Ownership by Quarter for Baker Hughes (NYSE:BHI)

Shares of Baker Hughes Incorporated (NYSE:BHI) traded down 3.06% during trading on Friday, hitting $57.68. 3,395,964 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $59.38 and its 200-day moving average price is $60.13. The stock’s market cap is $24.53 billion. Baker Hughes Incorporated has a 1-year low of $41.74 and a 1-year high of $68.59.

Baker Hughes (NYSE:BHI) last released its quarterly earnings results on Thursday, January 26th. The oilfield services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.19. Baker Hughes had a negative return on equity of 5.64% and a negative net margin of 27.82%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business posted ($0.21) EPS. The firm’s revenue for the quarter was down 29.0% compared to the same quarter last year. On average, equities analysts expect that Baker Hughes Incorporated will post $0.25 earnings per share for the current fiscal year.

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Several analysts have issued reports on BHI shares. BMO Capital Markets set a $69.00 price target on shares of Baker Hughes and gave the stock a “buy” rating in a research report on Thursday, January 12th. Jefferies Group LLC decreased their price target on shares of Baker Hughes from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Friday, January 27th. SunTrust Banks, Inc. started coverage on shares of Baker Hughes in a research report on Wednesday, January 18th. They issued a “hold” rating and a $66.00 price target on the stock. Zacks Investment Research lowered shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Finally, Citigroup Inc restated a “buy” rating and issued a $70.00 price target (down from $75.00) on shares of Baker Hughes in a research report on Saturday, March 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $60.71.

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 products and services for other businesses, including downstream chemicals, and process and pipeline services.

5 Day Chart for NYSE:BHI

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