Baker Hughes Incorporated (BHI) : Bronson Point Management added new position in Baker Hughes Incorporated during the most recent quarter end. The investment management firm now holds 193,000 shares of Baker Hughes Incorporated which is valued at $9,603,680 , the company said in a statement filed on Aug 15, 2016 with the SEC.Baker Hughes Incorporated makes up approximately 2.99% of Bronson Point Management’s portfolio.
Other Hedge Funds, Including , Cubist Systematic Strategies reduced its stake in BHI by selling 8,912 shares or 71.14% in the most recent quarter. The Hedge Fund company now holds 3,616 shares of BHI which is valued at $179,932. Baker Hughes Incorporated makes up approx 0.01% of Cubist Systematic Strategies’s portfolio.Geode Capital Management boosted its stake in BHI in the latest quarter, The investment management firm added 85,676 additional shares and now holds a total of 3,608,520 shares of Baker Hughes Incorporated which is valued at $179,559,955. Baker Hughes Incorporated makes up approx 0.09% of Geode Capital Management’s portfolio. J.safra Asset Management Corp sold out all of its stake in BHI during the most recent quarter. The investment firm sold 22,001 shares of BHI which is valued $1,094,770. Princeton Alpha Management Lp added BHI to its portfolio by purchasing 43,614 company shares during the most recent quarter which is valued at $2,052,475. Baker Hughes Incorporated makes up approx 0.35% of Princeton Alpha Management Lp’s portfolio.Strategy Asset Managers boosted its stake in BHI in the latest quarter, The investment management firm added 2,903 additional shares and now holds a total of 147,103 shares of Baker Hughes Incorporated which is valued at $6,922,667. Baker Hughes Incorporated makes up approx 1.53% of Strategy Asset Managers’s portfolio.
Baker Hughes Incorporated opened for trading at $49.11 and hit $49.94 on the upside on Thursday, eventually ending the session at $49.83, with a gain of 1.42% or 0.7 points. The heightened volatility saw the trading volume jump to 45,23,313 shares. Company has a market cap of $21,322 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 Companys 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.