Today, Lucus Advisors LLC Buys Shares of 7,802 Baker Hughes Inc. (BHI)

Today, Lucus Advisors LLC Buys Shares of 7,802 Baker Hughes Inc. (BHI)

Lucus Advisors LLC bought a new position in Baker Hughes Inc. (NYSE:BHI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,802 shares of the oilfield services provider’s stock, valued at approximately $394,000.

Several other institutional investors have also made changes to their positions in BHI. Viking Fund Management LLC raised its position in shares of Baker Hughes by 19.6% in the third quarter. Viking Fund Management LLC now owns 550,000 shares of the oilfield services provider’s stock worth $27,759,000 after buying an additional 90,000 shares during the period. Personal Capital Advisors Corp raised its position in shares of Baker Hughes by 9.6% in the second quarter. Personal Capital Advisors Corp now owns 335,257 shares of the oilfield services provider’s stock worth $15,130,000 after buying an additional 29,410 shares during the period. Retirement Systems of Alabama raised its position in shares of Baker Hughes by 25.0% in the second quarter. Retirement Systems of Alabama now owns 844,653 shares of the oilfield services provider’s stock worth $38,119,000 after buying an additional 169,058 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Baker Hughes by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 376,886 shares of the oilfield services provider’s stock worth $17,009,000 after buying an additional 6,894 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Baker Hughes by 0.6% in the second quarter. California State Teachers Retirement System now owns 955,164 shares of the oilfield services provider’s stock worth $43,107,000 after buying an additional 5,665 shares during the period. Institutional investors and hedge funds own 92.12% of the company’s stock.

Baker Hughes Inc. (NYSE:BHI) traded down 0.19% during trading on Friday, reaching $61.88. The company’s stock had a trading volume of 888,705 shares. The firm’s market capitalization is $26.61 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $62.40. The stock’s 50-day moving average is $56.00 and its 200 day moving average is $49.56.

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

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

A number of research firms recently weighed in on BHI. Loop Capital began coverage on shares of Baker Hughes in a research report on Friday, September 30th. They issued a “hold” rating and a $52.00 price objective on the stock. Susquehanna set a $70.00 price objective on shares of Baker Hughes and gave the company a “buy” rating in a research report on Monday. Citigroup Inc. lifted their price objective on shares of Baker Hughes from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Zacks Investment Research upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, October 14th. Finally, Evercore ISI reiterated a “hold” rating and issued a $60.00 price objective on shares of Baker Hughes in a research report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $55.41.

In other news, Director Gregory D. Brenneman purchased 85,000 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was bought at an average cost of $58.84 per share, with a total value of $5,001,400.00. Following the purchase, the director now directly owns 89,425 shares of the company’s stock, valued at $5,261,767. The acquisition was disclosed in a filing with the SEC, 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 value of $871,350.00. Following the sale, the vice president now directly owns 76,768 shares of the company’s stock, valued at $4,459,453.12. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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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