Brokerages Set Baker Hughes Inc. (BHI) PT at $56.22
Shares of Baker Hughes Inc. (NYSE:BHI) have earned a consensus recommendation of “Buy” from the thirty-six analysts that are presently covering the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $56.75.
A number of research analysts recently commented on BHI shares. Howard Weil boosted their price target on Baker Hughes from $56.00 to $62.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 27th. Jefferies Group boosted their price target on Baker Hughes from $48.00 to $57.00 and gave the company a “hold” rating in a research note on Tuesday, November 15th. Argus reiterated a “buy” rating and issued a $65.00 target price (up previously from $56.00) on shares of Baker Hughes in a research report on Tuesday, November 1st. Citigroup Inc. lifted their target price on Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Finally, TheStreet raised Baker Hughes from a “sell” rating to a “hold” rating in a research note on Friday, October 28th.
Shares of Baker Hughes (NYSE:BHI) opened at 64.33 on Monday. Baker Hughes has a 12 month low of $37.58 and a 12 month high of $64.72. The company has a 50 day moving average of $57.19 and a 200-day moving average of $50.08. The firm’s market capitalization is $27.66 billion.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, October 25th. The oilfield services provider reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.29. The business earned $2.40 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Analysts predict that Baker Hughes will post ($1.61) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently -8.89%.
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In other Baker Hughes news, Director Gregory D. Brenneman bought 85,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was purchased at an average cost of $58.84 per share, with a total value of $5,001,400.00. Following the transaction, the director now directly owns 89,425 shares in the company, valued at approximately $5,261,767. The transaction was disclosed in a legal filing with the SEC, which is available 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 value of $159,000.00. Following the sale, 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. Company insiders own 0.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. ValueAct Holdings L.P. raised its stake 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 in the last quarter. FMR LLC raised its stake 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Baker Hughes by 1.5% in the second quarter. Vanguard Group Inc. now owns 27,592,238 shares of the oilfield services provider’s stock valued at $1,245,237,000 after buying an additional 404,395 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Baker Hughes by 6.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 12,116,975 shares of the oilfield services provider’s stock valued at $611,544,000 after buying an additional 699,440 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Baker Hughes by 11.4% in the second quarter. Capital World Investors now owns 8,998,989 shares of the oilfield services provider’s stock valued at $406,124,000 after buying an additional 921,073 shares in the last quarter. 89.33% of the stock is 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.
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