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Baker Hughes (NYSE:BHI) was downgraded by equities research analysts at Iberia Capital from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.

A number of other firms have also recently commented on BHI. Analysts at RBC Capital downgraded shares of Baker Hughes from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday. They now have a $60.00 price target on the stock, down previously from $67.00. Separately, analysts at Cowen and Company downgraded shares of Baker Hughes from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a $56.00 price target on the stock, down previously from $70.00. Finally, analysts at Susquehanna reiterated a “neutral” rating on shares of Baker Hughes in a research note to investors on Tuesday, December 17th. They now have a $57.00 price target on the stock, down previously from $60.00. Fourteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Baker Hughes currently has an average rating of “Buy” and an average target price of $60.72.

Baker Hughes (NYSE:BHI) traded up 0.79% on Friday, hitting $52.23. 1,997,338 shares of the company’s stock traded hands. Baker Hughes has a 1-year low of $41.64 and a 1-year high of $58.83. The stock has a 50-day moving average of $54.40 and a 200-day moving average of $51.33. The company has a market cap of $23.150 billion and a P/E ratio of 21.67.

Baker Hughes (NYSE:BHI) last announced its earnings results on Friday, October 18th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.78 by $0.03. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the company posted $0.73 earnings per share. Baker Hughes’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post $2.97 earnings per share for the current fiscal year.

Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.

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