Viking Fund Management LLC increased its stake in Baker Hughes Inc. (NYSE:BHI) by 19.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 550,000 shares of the oilfield services provider’s stock after buying an additional 90,000 shares during the period. Baker Hughes accounts for approximately 4.6% of Viking Fund Management LLC’s holdings, making the stock its 3rd largest position. Viking Fund Management LLC owned about 0.13% of Baker Hughes worth $27,759,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Winslow Asset Management Inc. boosted its stake in Baker Hughes by 0.5% in the second quarter. Winslow Asset Management Inc. now owns 5,025 shares of the oilfield services provider’s stock valued at $227,000 after buying an additional 25 shares in the last quarter. Synovus Financial Corp boosted its stake in Baker Hughes by 1.2% in the second quarter. Synovus Financial Corp now owns 4,745 shares of the oilfield services provider’s stock valued at $216,000 after buying an additional 55 shares in the last quarter. Nippon Life Insurance Co. boosted its stake in Baker Hughes by 0.4% in the second quarter. Nippon Life Insurance Co. now owns 26,117 shares of the oilfield services provider’s stock valued at $1,179,000 after buying an additional 101 shares in the last quarter. Conning Inc. boosted its stake in Baker Hughes by 1.2% in the second quarter. Conning Inc. now owns 10,540 shares of the oilfield services provider’s stock valued at $476,000 after buying an additional 120 shares in the last quarter. Finally, Security National Bank of SO Dak boosted its stake in Baker Hughes by 1.0% in the second quarter. Security National Bank of SO Dak now owns 12,304 shares of the oilfield services provider’s stock valued at $556,000 after buying an additional 120 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Baker Hughes Inc. (NYSE:BHI) traded up 0.61% during midday trading on Thursday, hitting $52.52. 1,671,573 shares of the company were exchanged. The company’s 50 day moving average price is $50.18 and its 200 day moving average price is $46.91. Baker Hughes Inc. has a one year low of $37.58 and a one year high of $56.81. The firm’s market cap is $22.47 billion.

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 consensus estimate of ($0.59) by $0.31. The firm earned $2.40 billion during the quarter, compared to the consensus estimate of $2.34 billion. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. Baker Hughes’s revenue was down 39.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) EPS. Equities analysts expect that Baker Hughes Inc. will post ($2.21) EPS for the current year.

BHI has been the topic of several research reports. Jefferies Group upgraded shares of Baker Hughes from an “underperform” rating to a “hold” rating in a report on Sunday, July 10th. Citigroup Inc. cut their price target on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Deutsche Bank AG raised their price target on shares of Baker Hughes from $38.00 to $52.00 and gave the company a “hold” rating in a report on Monday, August 1st. Nomura raised their price target on shares of Baker Hughes from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Finally, FBR & Co restated a “buy” rating on shares of Baker Hughes in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Baker Hughes currently has an average rating of “Buy” and a consensus price target of $53.24.

In other Baker Hughes news, SVP Alan R. Crain, Jr. sold 1,226 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $48.00, for a total value of $58,848.00. Following the transaction, the senior vice president now owns 50,159 shares of the company’s stock, valued at $2,407,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $53.00, for a total value of $159,000.00. Following the completion of the transaction, the senior vice president now directly owns 21,160 shares in the company, valued at approximately $1,121,480. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

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.

5 Day Chart for NYSE:BHI

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