Gregory D. Brenneman Purchases 85,000 Shares of Baker Hughes Inc. (BHI) Stock
Baker Hughes Inc. (NYSE:BHI) Director Gregory D. Brenneman bought 85,000 shares of the stock in a transaction dated Monday, November 14th. The stock was bought at an average price of $58.84 per share, with a total value of $5,001,400.00. Following the purchase, the director now owns 89,425 shares of the company’s stock, valued at approximately $5,261,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Baker Hughes Inc. (NYSE:BHI) traded up 0.25% during mid-day trading on Wednesday, hitting $61.17. The stock had a trading volume of 3,898,232 shares. The stock’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 $26.30 billion. Baker Hughes Inc. has a 12-month low of $37.58 and a 12-month high of $62.16.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings data on Tuesday, October 25th. The oilfield services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.29. Baker Hughes had a negative return on equity of 5.07% and a negative net margin of 30.97%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was down 37.8% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes Inc. will post ($1.63) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders 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 yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 3rd. Baker Hughes’s dividend payout ratio is -8.89%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Asset Management Inc. boosted its stake in shares of 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 during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Baker Hughes by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,870 shares of the oilfield services provider’s stock valued at $700,000 after buying an additional 40 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of 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 during the last quarter. LPL Financial LLC boosted its stake in Baker Hughes by 1.0% in the third quarter. LPL Financial LLC now owns 10,012 shares of the oilfield services provider’s stock worth $501,000 after buying an additional 96 shares in the last quarter. Finally, Usca Ria LLC boosted its stake in Baker Hughes by 2.0% in the third quarter. Usca Ria LLC now owns 5,000 shares of the oilfield services provider’s stock worth $252,000 after buying an additional 100 shares in the last quarter. 92.52% of the stock is currently owned by hedge funds and other institutional investors.
BHI has been the subject of a number of recent research reports. Jefferies Group increased their target price on Baker Hughes to $57.00 in a research note on Tuesday. Argus increased their target price on Baker Hughes from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Citigroup Inc. reiterated a “buy” rating and issued a $54.00 target price on shares of Baker Hughes in a research note on Tuesday, August 2nd. Credit Suisse Group AG set a $56.00 target price on Baker Hughes and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, FBR & Co reiterated a “buy” rating on shares of Baker Hughes in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Baker Hughes has a consensus rating of “Buy” and an average price target of $54.76.
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.
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