Todays Report: Today, Baker Hughes Inc. (BHI) PT Set at $70.00 by Susquehanna

Today, Baker Hughes Inc. (BHI) PT Set at $70.00 by Susquehanna

Susquehanna set a $70.00 price target on Baker Hughes Inc. (NYSE:BHI) in a research report released on Monday. The brokerage currently has a buy rating on the oilfield services provider’s stock.

BHI has been the subject of a number of other research reports. Argus boosted their price objective on Baker Hughes from $52.00 to $55.00 and gave the company a buy rating in a report on Tuesday, August 9th. Citigroup Inc. restated a buy rating and set a $54.00 price objective on shares of Baker Hughes in a report on Tuesday, August 2nd. Credit Suisse Group AG set a $56.00 price objective on Baker Hughes and gave the company a buy rating in a report on Monday, August 1st. FBR & Co restated a buy rating on shares of Baker Hughes in a report on Friday, July 29th. Finally, BMO Capital Markets restated a buy rating and set a $50.00 price objective on shares of Baker Hughes in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $55.41.

Baker Hughes (NYSE:BHI) opened at 62.00 on Monday. Baker Hughes has a one year low of $37.58 and a one year high of $62.40. The stock’s 50 day moving average price is $56.00 and its 200 day moving average price is $49.56. The stock’s market cap is $26.66 billion.

Baker Hughes (NYSE:BHI) last announced its earnings results on Tuesday, October 25th. The oilfield services provider reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.29. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Baker Hughes had a negative return on equity of 5.07% and a negative net margin of 30.97%. The company’s quarterly revenue was down 37.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities analysts predict that Baker Hughes will post ($1.61) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Baker Hughes’s payout ratio is currently -8.89%.

In other news, Director Gregory D. Brenneman bought 85,000 shares of Baker Hughes stock in a transaction on Monday, November 14th. The stock was acquired 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 $5,261,767. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $53.00, for a total value of $159,000.00. Following the transaction, the senior vice president now directly owns 21,160 shares of the company’s stock, valued at approximately $1,121,480. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Several large investors have recently bought and sold shares of BHI. RWC Asset Management LLP boosted its stake in Baker Hughes by 53.8% in the third quarter. RWC Asset Management LLP now owns 45,689 shares of the oilfield services provider’s stock valued at $2,306,000 after buying an additional 15,991 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in Baker Hughes during the third quarter valued at approximately $206,000. LPL Financial LLC boosted its stake in Baker Hughes by 1.0% in the third quarter. LPL Financial LLC now owns 10,012 shares of the oilfield services provider’s stock valued at $501,000 after buying an additional 96 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in Baker Hughes by 271.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 625,627 shares of the oilfield services provider’s stock valued at $31,573,000 after buying an additional 457,203 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in Baker Hughes by 7.5% in the third quarter. Credit Suisse AG now owns 793,177 shares of the oilfield services provider’s stock valued at $40,032,000 after buying an additional 55,550 shares in the last quarter. 92.12% of the stock is owned by hedge funds and other institutional investors.

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