Baker Hughes Incorporated (NYSE:BHI)‘s stock had its “buy” rating reissued by stock analysts at BMO Capital Markets in a research note issued on Thursday. They currently have a $69.00 target price on the oilfield services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 16.04% from the stock’s current price.
A number of other research analysts have also recently issued reports on BHI. Zacks Investment Research upgraded Baker Hughes from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Wednesday, December 14th. Howard Weil cut Baker Hughes from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $64.00 to $71.00 in a research note on Thursday, December 15th. Scotiabank cut Baker Hughes to a “hold” rating and set a $71.00 price objective for the company. in a research note on Sunday, December 18th. Jefferies Group LLC reiterated a “hold” rating and set a $73.00 price objective (up previously from $57.00) on shares of Baker Hughes in a research note on Wednesday, December 21st. Finally, Susquehanna Bancshares Inc cut Baker Hughes from a “positive” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Wednesday, January 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $60.40.
Shares of Baker Hughes (NYSE:BHI) traded down 0.29% on Thursday, reaching $59.29. The company’s stock had a trading volume of 1,263,150 shares. The stock has a 50-day moving average of $59.50 and a 200 day moving average of $59.76. Baker Hughes has a 52-week low of $41.18 and a 52-week high of $68.59. The company’s market cap is $25.22 billion.
Baker Hughes (NYSE:BHI) last announced its quarterly earnings data on Thursday, January 26th. The oilfield services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.19. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Baker Hughes had a negative net margin of 27.82% and a negative return on equity of 5.64%. The firm’s quarterly revenue was down 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. On average, equities research analysts forecast that Baker Hughes will post $0.28 earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. increased its position in shares of 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 during the last quarter. Hsbc Holdings PLC increased 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 worth $17,038,000 after buying an additional 6,668 shares in the last quarter. State Street Corp increased 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 worth $1,450,682,000 after buying an additional 472,771 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased 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 worth $68,426,000 after buying an additional 170,098 shares in the last quarter. Finally, DIAM Co. Ltd. increased 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 worth $2,130,000 after buying an additional 489 shares in the last quarter. Institutional investors and hedge funds own 91.03% 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 products and services for other businesses, including downstream chemicals, and process and pipeline services.
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