Municipal Employees Retirement System of Michigan maintained its position in shares of Baker Hughes Incorporated (NYSE:BHI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,690 shares of the oilfield services provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Baker Hughes were worth $819,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BHI. Winch Advisory Services LLC bought a new position in shares of Baker Hughes during the first quarter worth approximately $104,000. First Manhattan Co. increased its position in shares of Baker Hughes by 19.3% in the first quarter. First Manhattan Co. now owns 2,470 shares of the oilfield services provider’s stock worth $124,000 after buying an additional 400 shares during the last quarter. TrimTabs Asset Management LLC increased its position in shares of Baker Hughes by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 2,121 shares of the oilfield services provider’s stock worth $127,000 after buying an additional 1,000 shares during the last quarter. First Bank & Trust increased its position in shares of Baker Hughes by 11.8% in the first quarter. First Bank & Trust now owns 2,239 shares of the oilfield services provider’s stock worth $134,000 after buying an additional 236 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Baker Hughes by 21.5% in the first quarter. Trust Co. of Vermont now owns 2,260 shares of the oilfield services provider’s stock worth $135,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

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

Baker Hughes Incorporated (NYSE BHI) traded up 1.72% on Friday, reaching $57.29. The company had a trading volume of 3,687,710 shares. Baker Hughes Incorporated has a 12 month low of $41.74 and a 12 month high of $68.59. The stock’s market capitalization is $24.37 billion. The firm has a 50 day moving average price of $57.13 and a 200-day moving average price of $60.53.

Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.17. Baker Hughes had a negative return on equity of 4.55% and a negative net margin of 19.99%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned ($1.58) EPS. The firm’s revenue was down 15.3% on a year-over-year basis. Analysts forecast that Baker Hughes Incorporated will post $0.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Baker Hughes’s dividend payout ratio is currently -15.60%.

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A number of brokerages recently commented on BHI. Zacks Investment Research upgraded Baker Hughes from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, March 29th. Jefferies Group LLC lowered their price objective on Baker Hughes from $72.00 to $67.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Citigroup Inc. restated a “buy” rating and set a $70.00 price objective (down from $75.00) on shares of Baker Hughes in a research note on Saturday, March 11th. BidaskClub raised Baker Hughes from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Finally, Scotiabank set a $69.00 price target on Baker Hughes and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Baker Hughes has an average 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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