Insider Selling: Martin S. Craighead Sells 8,000 Shares of Baker Hughes Stock (BHI)
Baker Hughes (NYSE:BHI) CEO Martin S. Craighead unloaded 8,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $68.30, for a total value of $546,400.00. Following the sale, the chief executive officer now directly owns 136,388 shares in the company, valued at approximately $9,315,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
BHI has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Baker Hughes from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $86.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Baker Hughes from $80.00 to $84.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Baker Hughes in a research note on Monday, July 21st. They now have a $77.00 price target on the stock, up previously from $74.00. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $80.77.
Baker Hughes (NYSE:BHI) traded down 0.64% on Monday, hitting $68.06. The stock had a trading volume of 1,468,345 shares. Baker Hughes has a one year low of $46.09 and a one year high of $75.64. The stock has a 50-day moving average of $73.03 and a 200-day moving average of $66.57. The company has a market cap of $29.609 billion and a P/E ratio of 23.79.
Baker Hughes (NYSE:BHI) last released its earnings data on Thursday, July 17th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.90 by $0.02. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that Baker Hughes will post $4.18 EPS for the current fiscal year.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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