Baker Hughes Inc. (NYSE:BHI) VP Belgacem Chariag sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $58.09, for a total value of $871,350.00. Following the completion of the sale, the vice president now directly owns 76,768 shares of the company’s stock, valued at approximately $4,459,453.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Baker Hughes Inc. (NYSE:BHI) opened at 58.64 on Monday. Baker Hughes Inc. has a 12-month low of $37.58 and a 12-month high of $62.16. The firm’s 50-day moving average price is $53.45 and its 200 day moving average price is $48.70. The stock’s market capitalization is $25.22 billion.

Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, October 25th. The oilfield services provider reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.29. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Baker Hughes had a negative return on equity of 5.07% and a negative net margin of 30.97%. Baker Hughes’s quarterly revenue was down 37.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. Analysts predict that Baker Hughes Inc. will post ($1.63) EPS for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, November 7th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, November 3rd. Baker Hughes’s payout ratio is -8.89%.

A number of brokerages have recently weighed in on BHI. Loop Capital began coverage on Baker Hughes in a research report on Friday, September 30th. They issued a “hold” rating and a $52.00 price target for the company. Citigroup Inc. raised their price target on Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Zacks Investment Research upgraded Baker Hughes from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, October 14th. Evercore ISI restated a “hold” rating and issued a $60.00 price target on shares of Baker Hughes in a research report on Wednesday, November 2nd. Finally, RBC Capital Markets restated an “outperform” rating and issued a $59.00 price target (up previously from $50.00) on shares of Baker Hughes in a research report on Monday, October 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $54.47.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Fund Management LLC raised its position in Baker Hughes by 19.6% in the third quarter. Viking Fund Management LLC now owns 550,000 shares of the oilfield services provider’s stock valued at $27,759,000 after buying an additional 90,000 shares during the last quarter. Legal & General Group Plc raised its position in Baker Hughes by 5.2% in the first quarter. Legal & General Group Plc now owns 1,932,047 shares of the oilfield services provider’s stock valued at $84,683,000 after buying an additional 96,126 shares during the last quarter. Magnetar Financial LLC raised its position in Baker Hughes by 143.4% in the first quarter. Magnetar Financial LLC now owns 1,770,173 shares of the oilfield services provider’s stock valued at $77,587,000 after buying an additional 1,042,902 shares during the last quarter. Retirement Systems of Alabama raised its position in Baker Hughes by 25.0% in the second quarter. Retirement Systems of Alabama now owns 844,653 shares of the oilfield services provider’s stock valued at $38,119,000 after buying an additional 169,058 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Baker Hughes by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 376,886 shares of the oilfield services provider’s stock valued at $17,009,000 after buying an additional 6,894 shares during the last quarter. 92.52% of the stock is currently owned by hedge funds and other institutional investors.

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

Receive News & Stock Ratings for Baker Hughes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes Inc. and related stocks with our FREE daily email newsletter.