Marianas Fund Management adds Baker Hughes Incorporated (BHI) to its portfolio

Baker Hughes Incorporated (BHI) : Marianas Fund Management added new position in Baker Hughes Incorporated during the most recent quarter end. The investment management firm now holds 139,100 shares of Baker Hughes Incorporated which is valued at $6,921,616 , the company said in a statement filed on Aug 15, 2016 with the SEC.Baker Hughes Incorporated makes up approximately 1.39% of Marianas Fund Management’s portfolio.

Other Hedge Funds, Including , Cs Mckee Lp reduced its stake in BHI by selling 76,367 shares or 9.73% in the most recent quarter. The Hedge Fund company now holds 708,865 shares of BHI which is valued at $35,273,122. Baker Hughes Incorporated makes up approx 1.26% of Cs Mckee Lp’s portfolio.Canada Pension Plan Investment Board reduced its stake in BHI by selling 3,995,320 shares or 92.52% in the most recent quarter. The Hedge Fund company now holds 322,819 shares of BHI which is valued at $16,063,473. Baker Hughes Incorporated makes up approx 0.06% of Canada Pension Plan Investment Board’s portfolio.Harris Associates L P reduced its stake in BHI by selling 1,223,207 shares or 20.44% in the most recent quarter. The Hedge Fund company now holds 4,760,114 shares of BHI which is valued at $236,863,273. Baker Hughes Incorporated makes up approx 0.45% of Harris Associates L P’s portfolio.Westport Resources Management Inc reduced its stake in BHI by selling 325 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 12,804 shares of BHI which is valued at $637,127. Baker Hughes Incorporated makes up approx 0.20% of Westport Resources Management Inc’s portfolio.Schwartz Investment Counsel Inc reduced its stake in BHI by selling 120,000 shares or 55.94% in the most recent quarter. The Hedge Fund company now holds 94,500 shares of BHI which is valued at $4,535,055. Baker Hughes Incorporated makes up approx 0.31% of Schwartz Investment Counsel Inc’s portfolio.

Baker Hughes Incorporated closed down -0.06 points or -0.12% at $49.9 with 5,493,209 shares getting traded on Wednesday. Post opening the session at $49.82, the shares hit an intraday low of $48.73 and an intraday high of $50.06 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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