Todays Report: Today, Northwestern Mutual Investment Management Company LLC Sold shares of Baker Hughes Inc. (BHI)

Today, Northwestern Mutual Investment Management Company LLC Sold shares of Baker Hughes Inc. (BHI)

Northwestern Mutual Investment Management Company LLC cut its stake in Baker Hughes Inc. (NYSE:BHI) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 16,706 shares of the oilfield services provider’s stock after selling 12 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Baker Hughes were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BHI. ValueAct Holdings L.P. raised its stake in Baker Hughes by 67.3% in the second quarter. ValueAct Holdings L.P. now owns 38,886,200 shares of the oilfield services provider’s stock valued at $1,754,934,000 after buying an additional 15,639,500 shares in the last quarter. FMR LLC raised its stake in Baker Hughes by 21.0% in the second quarter. FMR LLC now owns 27,713,563 shares of the oilfield services provider’s stock valued at $1,250,713,000 after buying an additional 4,812,667 shares in the last quarter. Vanguard Group Inc. raised its stake in Baker Hughes by 1.5% in the second quarter. Vanguard Group Inc. now owns 27,592,238 shares of the oilfield services provider’s stock valued at $1,245,237,000 after buying an additional 404,395 shares in the last quarter. Capital World Investors raised its stake in Baker Hughes by 11.4% in the second quarter. Capital World Investors now owns 8,998,989 shares of the oilfield services provider’s stock valued at $406,124,000 after buying an additional 921,073 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Baker Hughes by 36.6% in the second quarter. BlackRock Fund Advisors now owns 7,897,965 shares of the oilfield services provider’s stock valued at $356,435,000 after buying an additional 2,114,224 shares in the last quarter. Institutional investors own 92.12% of the company’s stock.

Baker Hughes Inc. (NYSE:BHI) traded down 0.19% during mid-day trading on Friday, reaching $61.88. 888,705 shares of the company’s stock traded hands. Baker Hughes Inc. has a 12 month low of $37.58 and a 12 month high of $62.40. The stock’s market cap is $26.61 billion. The company has a 50 day moving average price of $56.41 and a 200-day moving average price of $49.68.

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

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

A number of equities analysts have recently commented on the stock. Howard Weil raised their price objective on shares of Baker Hughes from $56.00 to $62.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 27th. Jefferies Group raised their price objective on shares of Baker Hughes from $48.00 to $57.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. Argus reaffirmed a “buy” rating and set a $65.00 price objective (up from $56.00) on shares of Baker Hughes in a report on Tuesday, November 1st. Citigroup Inc. raised their price objective on shares of Baker Hughes from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 11th. Finally, TheStreet raised shares of Baker Hughes from a “sell” rating to a “hold” rating in a report on Friday, October 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $55.41.

In other news, VP Belgacem Chariag sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $58.09, for a total transaction of $871,350.00. Following the completion of the sale, the vice president now owns 76,768 shares of the company’s stock, valued at approximately $4,459,453.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $53.00, for a total transaction of $159,000.00. Following the sale, 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. Insiders own 0.60% of the company’s stock.

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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