Baker Hughes Incorporated (BHI) Stake Reduced by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lowered its stake in Baker Hughes Incorporated (NYSE:BHI) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 491,348 shares of the oilfield services provider’s stock after selling 22,657 shares during the period. Loomis Sayles & Co. L P owned 0.12% of Baker Hughes worth $29,392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its position in shares of Baker Hughes by 0.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,712 shares of the oilfield services provider’s stock valued at $599,000 after buying an additional 48 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Baker Hughes by 0.9% in the fourth quarter. Brown Advisory Inc. now owns 5,791 shares of the oilfield services provider’s stock valued at $376,000 after buying an additional 53 shares in the last quarter. American National Bank raised its position in shares of Baker Hughes by 0.8% in the first quarter. American National Bank now owns 8,614 shares of the oilfield services provider’s stock valued at $516,000 after buying an additional 66 shares in the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Baker Hughes by 1.0% in the first quarter. Moody Lynn & Lieberson LLC now owns 7,728 shares of the oilfield services provider’s stock valued at $462,000 after buying an additional 75 shares in the last quarter. Finally, Cleararc Capital Inc. raised its position in shares of Baker Hughes by 1.2% in the first quarter. Cleararc Capital Inc. now owns 10,394 shares of the oilfield services provider’s stock valued at $622,000 after buying an additional 127 shares in the last quarter. 91.74% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Baker Hughes (NYSE:BHI)

Baker Hughes Incorporated (NYSE:BHI) traded down 1.565% during mid-day trading on Tuesday, hitting $55.665. 1,508,333 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $57.05 and a 200 day moving average of $60.45. The stock’s market capitalization is $23.68 billion. Baker Hughes Incorporated has a 52 week low of $41.74 and a 52 week high of $68.59.

Baker Hughes (NYSE:BHI) last released its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.17. Baker Hughes had a negative net margin of 19.99% and a negative return on equity of 4.55%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned ($1.58) earnings per share. The firm’s revenue was down 15.3% on a year-over-year basis. Equities analysts forecast that Baker Hughes Incorporated will post $0.03 earnings per share for the current fiscal year.

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Several research analysts have weighed in on the stock. BMO Capital Markets lowered shares of Baker Hughes from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $69.00 to $65.00 in a report on Wednesday, April 26th. Evercore ISI set a $72.00 price objective on shares of Baker Hughes and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of Baker Hughes from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Tudor Pickering assumed coverage on shares of Baker Hughes in a report on Thursday, March 23rd. They set a “buy” rating for the company. Finally, BidaskClub raised shares of Baker Hughes from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.02.

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

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