Harvard Management Co Inc Lowers stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Harvard Management Co Inc reduced its stake in Baker Hughes Incorporated by 31.29% during the most recent quarter end. The investment management company now holds a total of 285,423 shares of Baker Hughes Incorporated which is valued at $12.7 Million after selling 130,000 shares in Baker Hughes Incorporated , the firm said in a disclosure report filed with the SEC on May 13, 2016.Baker Hughes Incorporated makes up approximately 2.15% of Harvard Management Co Inc’s portfolio.

Other Hedge Funds, Including , Westfield Capital Management Co Lp added BHI to its portfolio by purchasing 838,486 company shares during the most recent quarter which is valued at $37.4 Million. Baker Hughes Incorporated makes up approx 0.29% of Westfield Capital Management Co Lp’s portfolio.Omers Administration Corp boosted its stake in BHI in the latest quarter, The investment management firm added 30,500 additional shares and now holds a total of 137,400 shares of Baker Hughes Incorporated which is valued at $6.1 Million. Baker Hughes Incorporated makes up approx 0.14% of Omers Administration Corp’s portfolio.First Interstate Bank reduced its stake in BHI by selling 4,667 shares or 2.57% in the most recent quarter. The Hedge Fund company now holds 177,040 shares of BHI which is valued at $7.9 Million. Baker Hughes Incorporated makes up approx 1.68% of First Interstate Bank’s portfolio.Ci Investments reduced its stake in BHI by selling 331,800 shares or 50.7% in the most recent quarter. The Hedge Fund company now holds 322,600 shares of BHI which is valued at $14.8 Million. Baker Hughes Incorporated makes up approx 0.19% of Ci Investments’s portfolio.High Pointe Capital Management boosted its stake in BHI in the latest quarter, The investment management firm added 210 additional shares and now holds a total of 26,770 shares of Baker Hughes Incorporated which is valued at $1.2 Million. Baker Hughes Incorporated makes up approx 1.79% of High Pointe Capital Management’s portfolio.

Baker Hughes Incorporated opened for trading at $44.31 and hit $45.83 on the upside on Wednesday, eventually ending the session at $45.55, with a gain of 3.62% or 1.59 points. The heightened volatility saw the trading volume jump to 39,83,259 shares. Company has a market cap of $19,947 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.

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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