Baker Hughes Inc. (BHI) Price Target Increased to $59.00 by Analysts at Royal Bank Of Canada
Baker Hughes Inc. (NYSE:BHI) had its price target upped by research analysts at Royal Bank Of Canada from $50.00 to $59.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the oilfield services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 11.66% from the company’s current price.
A number of other equities analysts also recently weighed in on BHI. Vetr raised shares of Baker Hughes from a “sell” rating to a “buy” rating and set a $51.17 price target on the stock in a research note on Monday, June 13th. Citigroup Inc. reaffirmed a “buy” rating on shares of Baker Hughes in a research note on Saturday, June 25th. Credit Suisse Group AG reissued a “buy” rating on shares of Baker Hughes in a research report on Tuesday, June 28th. Jefferies Group raised shares of Baker Hughes from an “underperform” rating to a “hold” rating and increased their target price for the stock from $38.00 to $41.00 in a research report on Monday, July 11th. Finally, GMP Securities downgraded shares of Baker Hughes from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Baker Hughes presently has an average rating of “Buy” and an average price target of $52.85.
Baker Hughes (NYSE:BHI) opened at 52.84 on Monday. The company has a 50 day moving average price of $50.13 and a 200 day moving average price of $46.75. Baker Hughes has a 1-year low of $37.58 and a 1-year high of $56.81. The firm’s market cap is $22.61 billion.
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Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative return on equity of 4.46% and a negative net margin of 25.14%. The company earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company posted ($0.14) earnings per share. The company’s revenue was down 39.3% compared to the same quarter last year. On average, equities research analysts forecast that Baker Hughes will post ($2.21) earnings per share for the current year.
In other news, SVP Alan R. Crain, Jr. sold 1,226 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.00, for a total transaction of $58,848.00. Following the completion of the sale, the senior vice president now owns 50,159 shares of the company’s stock, valued at $2,407,632. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Alan R. Crain, Jr. sold 25,999 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $50.93, for a total transaction of $1,324,129.07. Following the sale, the senior vice president now directly owns 24,160 shares of the company’s stock, valued at approximately $1,230,468.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. MCF Advisors LLC raised its stake in Baker Hughes by 859.6% in the second quarter. MCF Advisors LLC now owns 2,399 shares of the oilfield services provider’s stock valued at $108,000 after buying an additional 2,149 shares during the last quarter. Citizens Financial Group Inc RI raised its stake in Baker Hughes by 14.5% in the first quarter. Citizens Financial Group Inc RI now owns 2,837 shares of the oilfield services provider’s stock valued at $125,000 after buying an additional 360 shares during the last quarter. Partners Capital Investment Group LLC purchased a new stake in Baker Hughes during the second quarter valued at $144,000. Cypress Capital Management LLC WY purchased a new stake in Baker Hughes during the second quarter valued at $168,000. Finally, LVM Capital Management Ltd. MI purchased a new stake in Baker Hughes during the third quarter valued at $201,000. 89.30% of the stock is owned by institutional investors.
About Baker Hughes
Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.
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