Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Increases Position in Baker Hughes Inc. (BHI)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Increases Position in Baker Hughes Inc. (BHI)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Baker Hughes Inc. (NYSE:BHI) by 53.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,448 shares of the oilfield services provider’s stock after buying an additional 13,448 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Baker Hughes were worth $1,940,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in 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 during the last quarter. FMR LLC raised its position in shares of 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 during the last quarter. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. Capital World Investors raised its position in shares of 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 during the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of 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 during the last quarter. 89.33% of the stock is owned by institutional investors and hedge funds.

Shares of Baker Hughes Inc. (NYSE:BHI) traded down 0.99% during mid-day trading on Monday, reaching $61.27. 2,415,839 shares of the company traded hands. The stock’s market capitalization is $26.35 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $62.50. The company’s 50 day moving average is $56.65 and its 200 day moving average is $49.86.

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

The firm 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. This represents a $0.68 annualized dividend and a yield of 1.10%. The ex-dividend date was Thursday, November 3rd. Baker Hughes’s payout ratio is -8.89%.

BHI has been the subject of several research analyst reports. Nomura increased their price objective on shares of Baker Hughes from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Baker Hughes in a research report on Wednesday, October 19th. Scotiabank reaffirmed a “sector outperform” rating and issued a $56.00 price objective (up from $49.00) on shares of Baker Hughes in a research report on Sunday, July 31st. Loop Capital initiated 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 for the company. Finally, Royal Bank Of Canada increased their price objective on shares of Baker Hughes from $50.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.41.

In other news, VP Belgacem Chariag sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were 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 in the company, valued at approximately $4,459,453.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Alan R. Crain, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $53.00, for a total transaction of $159,000.00. Following the completion of the sale, the senior vice president now owns 21,160 shares in the company, valued at $1,121,480. The disclosure for this sale can be found here. Company 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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