Baker Hughes Inc. (BHI) Rating Reiterated by RBC Capital Markets
Baker Hughes Inc. (NYSE:BHI)‘s stock had its “outperform” rating reiterated by analysts at RBC Capital Markets in a research note issued to investors on Monday. They currently have a $59.00 price objective on the oilfield services provider’s stock, up from their previous price objective of $50.00. RBC Capital Markets’ price target suggests a potential upside of 10.59% from the stock’s previous close.
Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Baker Hughes from $50.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday. Loop Capital assumed coverage on shares of Baker Hughes in a report on Friday, September 30th. They set a “hold” rating and a $52.00 target price on the stock. Citigroup Inc. dropped their target price on shares of Baker Hughes from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Nomura increased their target price on shares of Baker Hughes from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. Finally, Jefferies Group reiterated a “hold” rating on shares of Baker Hughes in a report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.05.
Shares of Baker Hughes (NYSE:BHI) traded up 0.97% during mid-day trading on Monday, reaching $53.35. 4,511,169 shares of the company traded hands. The firm’s market capitalization is $22.83 billion. The firm has a 50-day moving average price of $50.13 and a 200 day moving average price of $46.75. Baker Hughes has a 52 week low of $37.58 and a 52 week high of $56.81.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/baker-hughes-inc-bhi-rating-reiterated-by-rbc-capital-markets.html
Baker Hughes (NYSE:BHI) last issued its earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The firm’s revenue was down 39.3% on a year-over-year basis. On average, analysts anticipate that Baker Hughes will post ($2.21) earnings per share for the current year.
In related news, SVP Alan R. Crain, Jr. sold 1,226 shares of Baker Hughes stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.00, for a total value of $58,848.00. Following the sale, the senior vice president now owns 50,159 shares of the company’s stock, valued at approximately $2,407,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alan J. Keifer sold 17,434 shares of Baker Hughes stock in a transaction on Friday, August 19th. The shares were sold at an average price of $52.70, for a total transaction of $918,771.80. Following the completion of the sale, the vice president now directly owns 41,374 shares in the company, valued at approximately $2,180,409.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BHI. MCF Advisors LLC boosted 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 worth $108,000 after buying an additional 2,149 shares in the last quarter. Citizens Financial Group Inc RI boosted 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 worth $125,000 after buying an additional 360 shares in the last quarter. Partners Capital Investment Group LLC bought a new stake in Baker Hughes during the second quarter worth about $144,000. Cypress Capital Management LLC WY bought a new stake in Baker Hughes during the second quarter worth about $168,000. Finally, LVM Capital Management Ltd. MI bought a new stake in Baker Hughes during the third quarter worth about $201,000. 89.30% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for Baker Hughes Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes Inc. and related companies with MarketBeat.com's FREE daily email newsletter.