Baker Hughes Inc. (NYSE:BHI)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Monday.

Other analysts also recently issued research reports about the stock. Argus increased their target price on shares of Baker Hughes from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Citigroup Inc. reissued a “buy” rating and set a $54.00 target price on shares of Baker Hughes in a research report on Tuesday, August 2nd. Credit Suisse Group AG set a $56.00 target price on shares of Baker Hughes and gave the company a “buy” rating in a research report on Monday, August 1st. FBR & Co reissued a “buy” rating on shares of Baker Hughes in a research report on Friday, July 29th. Finally, BMO Capital Markets reissued a “buy” rating and set a $50.00 target price on shares of Baker Hughes in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Baker Hughes presently has an average rating of “Buy” and a consensus target price of $54.76.

Analyst Recommendations for Baker Hughes (NYSE:BHI)

Shares of Baker Hughes (NYSE:BHI) opened at 60.32 on Monday. The company’s market cap is $25.94 billion. Baker Hughes has a 12 month low of $37.58 and a 12 month high of $62.16. The stock has a 50 day moving average of $53.45 and a 200-day moving average of $48.70.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 3rd. Baker Hughes’s payout ratio is -8.89%.

In related news, SVP Alan R. Crain, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $53.00, for a total value of $159,000.00. Following the completion of the sale, the senior vice president now owns 21,160 shares in the company, valued at approximately $1,121,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alan J. Keifer sold 17,434 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $52.70, for a total value of $918,771.80. Following the completion of the sale, the vice president now owns 41,374 shares of the company’s stock, valued at approximately $2,180,409.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. increased its stake in Baker Hughes by 67.3% in the second quarter. ValueAct Holdings L.P. now owns 38,886,200 shares of the oilfield services provider’s stock worth $1,754,934,000 after buying an additional 15,639,500 shares during the last quarter. FMR LLC increased its stake in Baker Hughes by 21.0% in the second quarter. FMR LLC now owns 27,713,563 shares of the oilfield services provider’s stock worth $1,250,713,000 after buying an additional 4,812,667 shares during the last quarter. BlackRock Fund Advisors increased its stake in Baker Hughes by 36.6% in the second quarter. BlackRock Fund Advisors now owns 7,897,965 shares of the oilfield services provider’s stock worth $356,435,000 after buying an additional 2,114,224 shares during the last quarter. Capital Research Global Investors increased its stake in Baker Hughes by 300.9% in the second quarter. Capital Research Global Investors now owns 2,636,240 shares of the oilfield services provider’s stock worth $118,974,000 after buying an additional 1,978,640 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Baker Hughes by 240.4% in the third quarter. Ameriprise Financial Inc. now owns 2,578,318 shares of the oilfield services provider’s stock worth $130,126,000 after buying an additional 1,820,972 shares during the last quarter. Institutional investors own 92.52% of the company’s stock.

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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