Sentry Investment Management LLC Raises Stake in Baker Hughes Incorporated (BHI)
Sentry Investment Management LLC boosted its stake in Baker Hughes Incorporated (NYSE:BHI) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 33,074 shares of the oilfield services provider’s stock after buying an additional 416 shares during the period. Sentry Investment Management LLC’s holdings in Baker Hughes were worth $1,978,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of BHI. Dodge & Cox purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $1,667,596,000. Bayesian Capital Management LP purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $1,423,000. Putnam Investments LLC boosted its stake in shares of Baker Hughes by 58.5% in the fourth quarter. Putnam Investments LLC now owns 915,799 shares of the oilfield services provider’s stock valued at $59,499,000 after buying an additional 338,130 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of Baker Hughes by 47.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 339,380 shares of the oilfield services provider’s stock valued at $20,302,000 after buying an additional 109,523 shares in the last quarter. Finally, Lyell Wealth Management LP purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $1,941,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
Baker Hughes Incorporated (NYSE:BHI) traded up 1.72% during mid-day trading 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 firm’s 50 day moving average price is $57.13 and its 200-day moving average price is $60.53. The company’s market capitalization is $24.37 billion.
Baker Hughes (NYSE:BHI) last posted its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business earned ($1.58) EPS. The business’s quarterly revenue was down 15.3% on a year-over-year basis. Equities research analysts anticipate that Baker Hughes Incorporated will post $0.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, May 4th. Baker Hughes’s payout ratio is currently -15.60%.
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Several equities research analysts have weighed in on BHI shares. Citigroup Inc. reiterated a “buy” rating and issued a $70.00 target price (down from $75.00) on shares of Baker Hughes in a report on Saturday, March 11th. Zacks Investment Research upgraded Baker Hughes from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Wednesday, March 29th. Royal Bank Of Canada reiterated a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a report on Monday, April 3rd. ValuEngine upgraded Baker Hughes from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Scotiabank set a $69.00 target price on Baker Hughes and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Baker Hughes currently has an average rating of “Hold” and an average target price of $62.02.
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 products and services for other businesses, including downstream chemicals, and process and pipeline services.
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