Baker Hughes Incorporated (BHI) : Founders Capital Management reduced its stake in Baker Hughes Incorporated by 10.57% during the most recent quarter end. The investment management company now holds a total of 4,762 shares of Baker Hughes Incorporated which is valued at $198,766 after selling 563 shares in Baker Hughes Incorporated according to a report filed by the company on Apr 5, 2016 with the SEC.Baker Hughes Incorporated makes up approximately 0.12% of Founders Capital Management’s portfolio.
Other Hedge Funds, Including , Cacti Asset Management reduced its stake in BHI by selling 7,700 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 238,835 shares of BHI which is valued at $10.3 Million. Baker Hughes Incorporated makes up approx 1.10% of Cacti Asset Management’s portfolio.
On the company’s financial health, Baker Hughes Incorporated reported $-0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jan 28, 2016. Analyst had a consensus of $-0.10. The company had revenue of $3.40 million for the quarter, compared to analysts expectations of $3488.65 million. The company’s revenue was down -48.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.44 EPS.
Many Wall Street Analysts have commented on Baker Hughes Incorporated. Baker Hughes Incorporated was Initiated by Nomura to “Neutral” on Apr 8, 2016. Baker Hughes Incorporated was Downgraded by Jefferies to ” Underperform” on Apr 8, 2016. Shares were Downgraded by Deutsche Bank on Apr 6, 2016 to ” Hold” and Lowered the Price Target to $ 43 from a previous price target of $78 .
Baker Hughes Incorporated closed down -1.37 points or -3.18% at $41.74 with 44,67,096 shares getting traded on Monday. Post opening the session at $43.47, the shares hit an intraday low of $41.1866 and an intraday high of $43.74 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.