Insider Selling: Baker Hughes VP Sells 52,126 Shares of Stock (BHI)
Baker Hughes (NYSE:BHI) VP Derek Mathieson sold 52,126 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $70.12, for a total value of $3,655,075.12. Following the completion of the sale, the vice president now directly owns 27,075 shares in the company, valued at approximately $1,898,499. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on BHI shares. 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 investment analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $75.29.
Baker Hughes (NYSE:BHI) traded down 0.33% on Wednesday, hitting $70.28. The stock had a trading volume of 5,324,502 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 $69.76 and its 200-day moving average is $61.34. The company has a market cap of $30.640 billion and a price-to-earnings ratio of 27.03.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue 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 0.97%. The ex-dividend date is Thursday, July 31st. This is a boost from Baker Hughes’s previous quarterly dividend of $0.15.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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