Canada Pension Plan Investment Board buys $192.7 Million stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Canada Pension Plan Investment Board scooped up 4,251,600 additional shares in Baker Hughes Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 4,318,139 shares of Baker Hughes Incorporated which is valued at $192.7 Million.Baker Hughes Incorporated makes up approximately 0.81% of Canada Pension Plan Investment Board’s portfolio.

Other Hedge Funds, Including , Edmond De Rothschild Holding S.a. boosted its stake in BHI in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 11,800 shares of Baker Hughes Incorporated which is valued at $526,634. Baker Hughes Incorporated makes up approx 0.02% of Edmond De Rothschild Holding S.a.’s portfolio.Blackrock Advisors reduced its stake in BHI by selling 248,165 shares or 18.64% in the most recent quarter. The Hedge Fund company now holds 1,083,489 shares of BHI which is valued at $48.4 Million. Baker Hughes Incorporated makes up approx 0.05% of Blackrock Advisors’s portfolio.Td Asset Management Inc reduced its stake in BHI by selling 18,794 shares or 8.68% in the most recent quarter. The Hedge Fund company now holds 197,776 shares of BHI which is valued at $9.1 Million. Baker Hughes Incorporated makes up approx 0.02% of Td Asset Management Inc’s portfolio.

Baker Hughes Incorporated opened for trading at $45.46 and hit $45.7 on the upside on Friday, eventually ending the session at $45.33, with a gain of 0.20% or 0.09 points. The heightened volatility saw the trading volume jump to 35,56,512 shares. Company has a market cap of $19,851 M.

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.

Investors should note that on Apr 18, 2016, Baker Hughes Incorporated announced a cash dividend of $0.1700. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 22, 2016.

Many Wall Street Analysts have commented on Baker Hughes Incorporated. Baker Hughes Incorporated was Resumed by Goldman to “Neutral” on May 9, 2016. Shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold” and Lowered the Price Target to $ 40 from a previous price target of $44 .Company shares were Reiterated by UBS on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

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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