Trust Investment Advisors Lowers stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Trust Investment Advisors reduced its stake in Baker Hughes Incorporated by 4.3% during the most recent quarter end. The investment management company now holds a total of 23,360 shares of Baker Hughes Incorporated which is valued at $1,135,530 after selling 1,050 shares in Baker Hughes Incorporated , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Baker Hughes Incorporated makes up approximately 1.26% of Trust Investment Advisors’s portfolio.

Other Hedge Funds, Including , Mufg Americas Holdings Corp reduced its stake in BHI by selling 223 shares or 5.28% in the most recent quarter. The Hedge Fund company now holds 4,000 shares of BHI which is valued at $194,440. Baker Hughes Incorporated makes up approx 0.01% of Mufg Americas Holdings Corp’s portfolio.Supplemental Annuity Collective Trust Of Nj boosted its stake in BHI in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 16,000 shares of Baker Hughes Incorporated which is valued at $754,080. Baker Hughes Incorporated makes up approx 0.37% of Supplemental Annuity Collective Trust Of Nj’s portfolio. Greylin Investment Mangement Inc added BHI to its portfolio by purchasing 43,500 company shares during the most recent quarter which is valued at $1,937,055. Baker Hughes Incorporated makes up approx 0.43% of Greylin Investment Mangement Inc’s portfolio.

Baker Hughes Incorporated opened for trading at $50 and hit $50.8635 on the upside on Monday, eventually ending the session at $50.64, with a gain of 1.77% or 0.88 points. The heightened volatility saw the trading volume jump to 23,98,870 shares. Company has a market cap of $21,669 M.

On the company’s financial health, Baker Hughes Incorporated reported $-0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.61. The company had revenue of $2408.00 million for the quarter, compared to analysts expectations of $2319.69 million. The company’s revenue was down -39.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Baker Hughes Incorporated. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Hold”, Firm has raised the Price Target to $ 52 from a previous price target of $38 .Company shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $49 .Company shares were Upgraded by Jefferies on Jul 11, 2016 to ” Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $38 .

Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services products technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals and process and pipeline services. It conducts its operations through subsidiaries affiliates ventures and alliances. The Company has four geographical operating segments: North America Latin America Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Company also has an Industrial Services segment which includes the downstream chemicals business and the process and pipeline services business. The Company’s Integrated Operations is focused on the execution of projects that have attributes such as project management well site supervision well construction intervention third-party contractor management procurement and rig management.

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