Baker Hughes Inc. (NYSE:BHI)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group in a report released on Wednesday. They presently have a $48.00 target price on the oilfield services provider’s stock. Jefferies Group’s target price would suggest a potential downside of 6.98% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Citigroup Inc. decreased their price objective on Baker Hughes from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Deutsche Bank AG increased their target price on Baker Hughes from $38.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, August 1st. Nomura increased their target price on Baker Hughes from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. FBR & Co reissued a “buy” rating on shares of Baker Hughes in a research note on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Baker Hughes in a research note on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Baker Hughes currently has a consensus rating of “Buy” and a consensus target price of $52.99.

Analyst Recommendations for Baker Hughes (NYSE:BHI)

Baker Hughes (NYSE:BHI) opened at 51.60 on Wednesday. Baker Hughes has a 12-month low of $37.58 and a 12-month high of $56.17. The firm’s 50-day moving average is $50.26 and its 200-day moving average is $47.18. The stock’s market capitalization is $22.08 billion.

Baker Hughes (NYSE:BHI) last posted its quarterly earnings data on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 4.46% and a negative net margin of 25.14%. Baker Hughes’s revenue for the quarter was down 39.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. Analysts predict that Baker Hughes will post ($2.21) EPS for the current fiscal year.

In related news, SVP Alan R. Crain, Jr. sold 25,999 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $50.93, for a total transaction of $1,324,129.07. Following the completion of the sale, the senior vice president now directly owns 24,160 shares of the company’s stock, valued at $1,230,468.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Alan R. Crain, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $47.01, for a total transaction of $329,070.00. Following the sale, the senior vice president now directly owns 51,385 shares of the company’s stock, valued at $2,415,608.85. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of BHI. Winslow Asset Management Inc. increased 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 worth $227,000 after buying an additional 25 shares during the period. Synovus Financial Corp increased 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 worth $216,000 after buying an additional 55 shares during the period. Nippon Life Insurance Co. increased 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 worth $1,179,000 after buying an additional 101 shares during the period. Conning Inc. increased 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 worth $476,000 after buying an additional 120 shares during the period. Finally, Security National Bank of SO Dak increased 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 worth $556,000 after buying an additional 120 shares during the period. 89.28% of the stock is owned by institutional investors and hedge funds.

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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