Baker Hughes Inc. (NYSE:BHI) SVP Alan R. Crain, Jr. sold 3,000 shares of Baker Hughes stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $53.00, for a total transaction of $159,000.00. Following the completion of the transaction, the senior vice president now owns 21,160 shares of the company’s stock, valued at approximately $1,121,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Baker Hughes Inc. (NYSE:BHI) opened at 52.20 on Thursday. The company’s market cap is $22.34 billion. Baker Hughes Inc. has a 1-year low of $37.58 and a 1-year high of $56.81. The firm’s 50-day moving average is $50.18 and its 200 day moving average is $46.91.

Baker Hughes (NYSE:BHI) last posted its 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. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The company earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter last year, the firm earned ($0.14) EPS. Baker Hughes’s revenue for the quarter was down 39.3% on a year-over-year basis. Analysts predict that Baker Hughes Inc. will post ($2.21) earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Baker Hughes (NYSE:BHI)

A number of institutional investors have recently bought and sold shares of the stock. Ngam Advisors L.P. raised its stake in shares of Baker Hughes by 0.5% in the first quarter. Ngam Advisors L.P. now owns 24,478 shares of the oilfield services provider’s stock worth $1,073,000 after buying an additional 126 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Baker Hughes by 1.0% in the first quarter. Prudential Financial Inc. now owns 555,864 shares of the oilfield services provider’s stock worth $24,364,000 after buying an additional 5,280 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Baker Hughes during the first quarter worth $3,773,000. M&T Bank Corp raised its stake in shares of Baker Hughes by 466.2% in the first quarter. M&T Bank Corp now owns 166,999 shares of the oilfield services provider’s stock worth $7,320,000 after buying an additional 137,502 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its stake in shares of Baker Hughes by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 296,563 shares of the oilfield services provider’s stock worth $12,998,000 after buying an additional 19,390 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Citigroup Inc. lifted their target price on shares of Baker Hughes from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday. RBC Capital Markets reaffirmed an “outperform” rating and set a $59.00 price objective (up previously from $50.00) on shares of Baker Hughes in a research note on Monday. Royal Bank Of Canada boosted their price objective on shares of Baker Hughes from $50.00 to $59.00 and gave the company an “outperform” rating in a research note on Monday. Loop Capital started coverage on shares of Baker Hughes in a research note on Friday, September 30th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Nomura boosted their price objective on shares of Baker Hughes from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $53.24.

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 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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