Sei Investments Co. reduced its stake in shares of Baker Hughes Incorporated (NYSE:BHI) by 33.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,085 shares of the oilfield services provider’s stock after selling 151,116 shares during the period. Sei Investments Co.’s holdings in Baker Hughes were worth $17,951,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Baker Hughes by 1.9% in the fourth quarter. FMR LLC now owns 34,344,008 shares of the oilfield services provider’s stock valued at $2,231,331,000 after buying an additional 632,897 shares during the period. Dodge & Cox purchased a new stake in Baker Hughes during the fourth quarter valued at approximately $1,667,596,000. State Street Corp boosted 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 during the period. American Century Companies Inc. boosted its stake in 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 valued at $353,108,000 after buying an additional 317,615 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Baker Hughes by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 3,931,560 shares of the oilfield services provider’s stock valued at $235,186,000 after buying an additional 20,210 shares during the period. 91.03% of the stock is owned by institutional investors.
Baker Hughes Incorporated (NYSE:BHI) traded up 1.672% during mid-day trading on Friday, reaching $58.085. The company had a trading volume of 1,923,582 shares. The company’s market capitalization is $24.71 billion. The stock has a 50 day moving average price of $59.36 and a 200 day moving average price of $61.01. Baker Hughes Incorporated has a one year low of $41.74 and a one year high of $68.59.
Baker Hughes (NYSE:BHI) last issued its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.17. The company 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 5.64% and a negative net margin of 27.82%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period last year, the business posted ($1.58) EPS. On average, equities analysts expect that Baker Hughes Incorporated will post $0.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Monday, May 8th will be given a $0.17 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.68 annualized dividend and a yield of 1.19%. Baker Hughes’s payout ratio is -10.83%.
A number of brokerages recently commented on BHI. BMO Capital Markets cut Baker Hughes from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $69.00 to $65.00 in a research note on Wednesday, April 26th. Evercore ISI set a $72.00 price objective on Baker Hughes and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Tudor Pickering began coverage on Baker Hughes in a research note on Thursday, March 23rd. They set a “buy” rating for the company. Zacks Investment Research cut Baker Hughes from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Finally, HSBC Holdings plc began coverage on Baker Hughes in a research note on Wednesday, April 19th. They set a “hold” rating and a $62.00 price objective for the company. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.33.
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.
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