Webster Bank N. A. reduced its position in shares of Baker Hughes Incorporated (NYSE:BHI) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,725 shares of the oilfield services provider’s stock after selling 75 shares during the period. Webster Bank N. A.’s holdings in Baker Hughes were worth $223,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI raised its stake in shares of Baker Hughes by 65.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 60,456 shares of the oilfield services provider’s stock worth $3,616,000 after buying an additional 23,822 shares during the last quarter. Winch Advisory Services LLC purchased a new stake in shares of Baker Hughes during the first quarter worth approximately $104,000. Great West Life Assurance Co. Can raised its stake in shares of Baker Hughes by 9.3% in the first quarter. Great West Life Assurance Co. Can now owns 375,184 shares of the oilfield services provider’s stock worth $22,417,000 after buying an additional 32,046 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Baker Hughes by 2.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 64,835 shares of the oilfield services provider’s stock worth $3,878,000 after buying an additional 1,789 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in shares of Baker Hughes by 11.2% in the first quarter. Advisor Partners LLC now owns 6,702 shares of the oilfield services provider’s stock worth $401,000 after buying an additional 675 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors.
Shares of Baker Hughes Incorporated (NYSE:BHI) traded up 3.34% during midday trading on Friday, hitting $59.33. The company had a trading volume of 3,052,852 shares. Baker Hughes Incorporated has a 1-year low of $41.74 and a 1-year high of $68.59. The stock has a 50 day moving average price of $59.63 and a 200 day moving average price of $60.70. The firm’s market capitalization is $25.45 billion.
Baker Hughes (NYSE:BHI) last announced its quarterly earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.17. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Baker Hughes had a negative net margin of 27.82% and a negative return on equity of 5.64%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.58) EPS. On average, equities analysts anticipate that Baker Hughes Incorporated will post $0.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Stockholders of record on Monday, May 8th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Baker Hughes’s dividend payout ratio (DPR) is presently -10.83%.
A number of analysts recently commented on the company. Jefferies Group LLC decreased their target price on Baker Hughes from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Friday, January 27th. BMO Capital Markets set a $69.00 target price on Baker Hughes and gave the company a “buy” rating in a research report on Thursday, January 12th. SunTrust Banks, Inc. assumed coverage on Baker Hughes in a research report on Wednesday, January 18th. They issued a “hold” rating and a $66.00 target price for the company. Societe Generale lowered Baker Hughes from a “buy” rating to a “hold” rating and boosted their target price for the company from $61.74 to $65.00 in a research report on Thursday, January 19th. Finally, Susquehanna Bancshares Inc raised Baker Hughes from a “neutral” rating to a “positive” rating and set a $71.00 target price for the company in a research report on Thursday, February 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $62.33.
Baker Hughes Company Profile
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 products and services for other businesses, including downstream chemicals, and process and pipeline services.
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