Gruss Capital Management Lp adds Baker Hughes Incorporated (BHI) to its portfolio

Baker Hughes Incorporated (BHI) : Gruss Capital Management Lp added new position in Baker Hughes Incorporated during the most recent quarter end. The investment management firm now holds 600,000 shares of Baker Hughes Incorporated which is valued at $29,856,000 , the company said in a statement filed on Aug 12, 2016 with the SEC.Baker Hughes Incorporated makes up approximately 4.87% of Gruss Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust boosted its stake in BHI in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 1,135 shares of Baker Hughes Incorporated which is valued at $55,172. Baker Hughes Incorporated makes up approx 0.01% of Finemark National Bank Trust’s portfolio. Bb&t Securities sold out all of its stake in BHI during the most recent quarter. The investment firm sold 10,815 shares of BHI which is valued $508,954.Checchi Capital Advisers reduced its stake in BHI by selling 260 shares or 10.64% in the most recent quarter. The Hedge Fund company now holds 2,183 shares of BHI which is valued at $97,253. Baker Hughes Incorporated makes up approx 0.02% of Checchi Capital Advisers’s portfolio.

Baker Hughes Incorporated closed down -0.21 points or -0.41% at $50.65 with 29,91,405 shares getting traded on Monday. Post opening the session at $50.65, the shares hit an intraday low of $50.21 and an intraday high of $50.94 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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