Baker Hughes Incorporated (BHI) Releases Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Baker Hughes Incorporated (BHI) Releases Quarterly  Earnings Results, Misses Estimates By $0.19 EPS

Baker Hughes Incorporated (NYSE:BHI) issued its quarterly earnings results on Thursday. The oilfield services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.19. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Baker Hughes had a negative return on equity of 5.50% and a negative net margin of 27.82%. The business’s revenue for the quarter was down 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) EPS.

Shares of Baker Hughes (NYSE:BHI) opened at 63.09 on Monday. Baker Hughes has a 52 week low of $38.16 and a 52 week high of $68.59. The stock’s market cap is $26.94 billion. The stock’s 50 day moving average price is $64.05 and its 200 day moving average price is $55.31.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Monday, February 6th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, February 2nd. Baker Hughes’s dividend payout ratio (DPR) is -10.83%.

A number of brokerages have issued reports on BHI. Scotiabank downgraded Baker Hughes to a “hold” rating and set a $71.00 price target on the stock. in a research report on Sunday, December 18th. Jefferies Group LLC decreased their target price on Baker Hughes to $72.00 in a research report on Friday. DA Davidson restated a “buy” rating on shares of Baker Hughes in a research report on Monday, November 14th. Sanford C. Bernstein began coverage on Baker Hughes in a research report on Thursday, December 1st. They issued a “market perform” rating and a $65.00 target price on the stock. Finally, Zacks Investment Research downgraded Baker Hughes from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.28.

In other Baker Hughes news, Director Gregory D. Brenneman bought 85,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were purchased at an average price of $58.84 per share, with a total value of $5,001,400.00. Following the completion of the acquisition, the director now directly owns 89,425 shares of the company’s stock, valued at approximately $5,261,767. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Belgacem Chariag sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $58.09, for a total transaction of $871,350.00. Following the completion of the transaction, the vice president now directly owns 76,768 shares in the company, valued at approximately $4,459,453.12. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of BHI. LPL Financial LLC boosted its position in shares of Baker Hughes by 1.0% in the third quarter. LPL Financial LLC now owns 10,012 shares of the oilfield services provider’s stock worth $501,000 after buying an additional 96 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Baker Hughes by 4.5% in the second quarter. Wetherby Asset Management Inc. now owns 6,762 shares of the oilfield services provider’s stock valued at $305,000 after buying an additional 290 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Baker Hughes by 4.4% in the second quarter. Pacer Advisors Inc. now owns 8,573 shares of the oilfield services provider’s stock valued at $387,000 after buying an additional 365 shares during the last quarter. Advantus Capital Management Inc raised its stake in shares of Baker Hughes by 1.0% in the second quarter. Advantus Capital Management Inc now owns 42,528 shares of the oilfield services provider’s stock valued at $1,919,000 after buying an additional 414 shares during the last quarter. Finally, BOKF NA raised its stake in shares of Baker Hughes by 5.4% in the second quarter. BOKF NA now owns 10,007 shares of the oilfield services provider’s stock valued at $452,000 after buying an additional 511 shares during the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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 industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.

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