Weatherly Asset Management L. P. Lowers stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Weatherly Asset Management L. P. reduced its stake in Baker Hughes Incorporated by 1.65% during the most recent quarter end. The investment management company now holds a total of 16,110 shares of Baker Hughes Incorporated which is valued at $747,987 after selling 270 shares in Baker Hughes Incorporated , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Baker Hughes Incorporated makes up approximately 0.25% of Weatherly Asset Management L. P.’s portfolio.

Baker Hughes Incorporated opened for trading at $44.23 and hit $47.67 on the upside on Wednesday, eventually ending the session at $46.94, with a gain of 2.49% or 1.14 points. The heightened volatility saw the trading volume jump to 54,29,983 shares. Company has a market cap of $20,553 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in BHI during the most recent quarter. The investment firm sold 2,124,779 shares of BHI which is valued $98,653,489.Wealth Enhancement Advisory Services boosted its stake in BHI in the latest quarter, The investment management firm added 6,793 additional shares and now holds a total of 24,209 shares of Baker Hughes Incorporated which is valued at $1,124,024. Baker Hughes Incorporated makes up approx 0.22% of Wealth Enhancement Advisory Services’s portfolio.Charter Trust Co reduced its stake in BHI by selling 878 shares or 5.59% in the most recent quarter. The Hedge Fund company now holds 14,830 shares of BHI which is valued at $619,004. Baker Hughes Incorporated makes up approx 0.08% of Charter Trust Co’s portfolio.Kistler-tiffany Companies boosted its stake in BHI in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 328 shares of Baker Hughes Incorporated which is valued at $13,691. Baker Hughes Incorporated makes up approx 0.01% of Kistler-tiffany Companies’s portfolio.

On the company’s financial health, Baker Hughes Incorporated reported $-1.58 EPS for the quarter, missing the analyst consensus estimate by $ -1.25 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.33. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2829.83 million. The company’s revenue was down -41.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 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 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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