Baker Hughes Inc. (NYSE:BHI) – Research analysts at Jefferies Group raised their FY2020 earnings estimates for Baker Hughes in a report released on Tuesday. Jefferies Group analyst B. Handler now anticipates that the firm will post earnings of $5.55 per share for the year, up from their previous forecast of $5.25.

Several other equities research analysts have also recently weighed in on the company. DA Davidson restated a “buy” rating on shares of Baker Hughes in a research note on Monday. Guggenheim restated a “buy” rating on shares of Baker Hughes in a research note on Thursday, November 10th. Evercore ISI restated a “hold” rating and set a $60.00 target price on shares of Baker Hughes in a research note on Wednesday, November 2nd. RBC Capital Markets restated an “outperform” rating and set a $61.00 target price on shares of Baker Hughes in a research note on Wednesday, November 2nd. Finally, Argus restated a “buy” rating and set a $65.00 target price (up from $56.00) on shares of Baker Hughes in a research note on Tuesday, November 1st. One equities 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 stock. Baker Hughes has an average rating of “Buy” and a consensus price target of $54.76.

Earnings History and Estimates for Baker Hughes (NYSE:BHI)

Baker Hughes (NYSE:BHI) traded down 0.67% on Wednesday, reaching $60.82. The company’s stock had a trading volume of 1,600,046 shares. The company’s market cap is $26.15 billion. The stock’s 50 day moving average price is $54.73 and its 200 day moving average price is $49.08. Baker Hughes 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 results on Tuesday, October 25th. The oilfield services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.29. The business 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%. The firm’s revenue was down 37.8% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS.

A number of hedge funds and other institutional investors have recently made changes to their positions in BHI. ValueAct Holdings L.P. increased its position in shares of 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 valued at $1,754,934,000 after buying an additional 15,639,500 shares during the last quarter. FMR LLC increased its position in shares of Baker Hughes by 21.0% in the second quarter. FMR LLC now owns 27,713,563 shares of the oilfield services provider’s stock valued at $1,250,713,000 after buying an additional 4,812,667 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of 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 valued at $356,435,000 after buying an additional 2,114,224 shares during the last quarter. Capital Research Global Investors increased its position in shares of 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 valued at $118,974,000 after buying an additional 1,978,640 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of 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 valued at $130,126,000 after buying an additional 1,820,972 shares during the last quarter. 92.52% of the stock is owned by hedge funds and other institutional investors.

In other Baker Hughes news, 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 transaction, the vice president now directly owns 76,768 shares of the company’s stock, valued at approximately $4,459,453.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, October 7th. The shares were 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 directly owns 21,160 shares of the company’s stock, valued at $1,121,480. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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

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.