Citigroup Maintains Baker Hughes Incorporated to Buy with Price Target $56.00

Brokerage firm Citigroup Maintains its rating on Baker Hughes Incorporated(NYSE:BHI). In a research note issued to the investors, the brokerage major Lowers the price-target to $56.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Sep 12, 2016.

In a different note, On Aug 31, 2016, Citigroup said it Maintains its rating on Baker Hughes Incorporated. In the research note, the firm Raises the price-target to $54.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 16, 2016, Nomura said it Maintains its rating on Baker Hughes Incorporated. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 9, 2016, Argus Research said it Maintains its rating on Baker Hughes Incorporated. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Buy’ by the firm. Atlantic Equities said it Initiates Coverage on Baker Hughes Incorporated, according to a research note issued on Aug 8, 2016. The shares have been rated ‘Underweight’ by the firm. On Aug 1, 2016, Citigroup said it Maintains its rating on Baker Hughes Incorporated. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 1, 2016, Deutsche Bank said it Maintains its rating on Baker Hughes Incorporated. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Hold’ by the firm.

Baker Hughes Incorporated (BHI) shares turned negative on Tuesdays trading session with the shares closing down -0.02 points or -0.04% at a volume of 22,63,604. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.94. The peak price level was also seen at $48.94 while the days lowest was $48.08. Finally the shares closed at $48.48. The 52-week high of the shares is $58.23 while the 52-week low is $37.58. According to the latest information available, the market cap of the company is $20,745 M.

Baker Hughes Incorporated(BHI) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.41B. Analysts had an estimated revenue of $2.33B. Earnings per share were $-0.90. Analysts had estimated an EPS of $-0.59.

Several Insider Transactions has been reported to the SEC. On Aug 22, 2016, Alan J Keifer (Vice President and Controller) sold 17,434 shares at $52.70 per share price.Also, On Aug 17, 2016, Alan R Jr Crain (SVP, Chief Legal/Gov Ofcr) sold 25,999 shares at $50.93 per share price.On Jun 7, 2016, William D Marsh (VP, General Counsel) sold 1,500 shares at $49.10 per share price, according to the Form-4 filing with the securities and exchange commission.

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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