Baker Hughes CFO Peter A. Ragauss Sells 10,000 Shares (BHI)
Baker Hughes (NYSE:BHI) CFO Peter A. Ragauss sold 10,000 shares of Baker Hughes stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, the chief financial officer now directly owns 70,476 shares of the company’s stock, valued at approximately $4,991,815. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Baker Hughes (NYSE:BHI) traded down 0.30% during mid-day trading on Tuesday, hitting $70.39. The stock had a trading volume of 1,412,702 shares. Baker Hughes has a 1-year low of $43.34 and a 1-year high of $71.52. The stock’s 50-day moving average is $69.43 and its 200-day moving average is $61.18. The company has a market cap of $30.688 billion and a P/E ratio of 27.06.
Baker Hughes (NYSE:BHI) last announced its earnings results on Thursday, April 17th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $4.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Monday, August 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, July 31st. This is a boost from Baker Hughes’s previous quarterly dividend of $0.15.
BHI has been the subject of a number of recent research reports. Analysts at Global Hunter Securities upgraded shares of Baker Hughes from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $80.00 price target on the stock, up previously from $60.00. Separately, analysts at Credit Suisse raised their price target on shares of Baker Hughes from $83.00 to $96.00 in a research note on Wednesday, May 14th. They now have an “outperform” rating on the stock. Finally, analysts at Tudor Pickering upgraded shares of Baker Hughes from an “accumulate” rating to a “buy” rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $75.29.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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