Insider Selling: Peter A. Ragauss Sells 10,000 Shares of Baker Hughes Stock (BHI)
Baker Hughes (NYSE:BHI) CFO Peter A. Ragauss sold 10,000 shares of Baker Hughes stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $68.30, for a total transaction of $683,000.00. Following the completion of the transaction, the chief financial officer now directly owns 50,583 shares in the company, valued at approximately $3,454,819. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Baker Hughes currently has an average rating of “Buy” and an average target price of $80.77.
Shares of Baker Hughes (NYSE:BHI) traded down 0.66% on Monday, hitting $68.05. 1,468,445 shares of the company’s stock traded hands. Baker Hughes has a 1-year low of $46.09 and a 1-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 $29.605 billion and a P/E ratio of 23.79.
Baker Hughes (NYSE:BHI) last announced its earnings results on Thursday, July 17th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.61 earnings per share. Baker Hughes’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Baker Hughes will post $4.18 earnings per share for the current fiscal year.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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