Baker Hughes Incorporated (NYSE:BHI) was downgraded by research analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, The Fly reports.
BHI has been the subject of several other reports. Citigroup Inc. reissued a “buy” rating and issued a $70.00 price objective (down from $75.00) on shares of Baker Hughes in a report on Saturday, March 11th. Zacks Investment Research raised Baker Hughes from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, March 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $80.00 price objective on shares of Baker Hughes in a report on Monday, April 3rd. ValuEngine raised Baker Hughes from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Scotiabank set a $69.00 price objective on Baker Hughes and gave the company a “hold” rating in a report on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.50.
Shares of Baker Hughes (BHI) opened at 54.52 on Friday. Baker Hughes has a 1-year low of $41.74 and a 1-year high of $68.59. The company has a 50-day moving average of $56.93 and a 200-day moving average of $60.37. The firm’s market capitalization is $23.20 billion.
Baker Hughes (NYSE:BHI) last announced its quarterly earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.17. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.27 billion. Baker Hughes had a negative return on equity of 4.55% and a negative net margin of 19.99%. The firm’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.58) earnings per share. Equities research analysts predict that Baker Hughes will post $0.02 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Baker Hughes by 1,858.5% in the first quarter. BlackRock Inc. now owns 32,833,178 shares of the oilfield services provider’s stock worth $1,964,079,000 after buying an additional 31,156,767 shares during the last quarter. ValueAct Holdings L.P. raised its stake in shares of Baker Hughes by 14.6% in the first quarter. ValueAct Holdings L.P. now owns 31,407,820 shares of the oilfield services provider’s stock worth $1,878,816,000 after buying an additional 4,000,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 3.5% in the first quarter. Vanguard Group Inc. now owns 29,075,548 shares of the oilfield services provider’s stock worth $1,739,299,000 after buying an additional 991,070 shares during the last quarter. Dodge & Cox acquired a new stake in shares of Baker Hughes during the fourth quarter worth about $1,667,596,000. Finally, American Century Companies Inc. raised its stake in shares of Baker Hughes by 5.7% in the first quarter. American Century Companies Inc. now owns 5,902,846 shares of the oilfield services provider’s stock worth $353,108,000 after buying an additional 317,615 shares during the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.
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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