Price Target Update on Baker Hughes Incorporated (NYSE:BHI)

Baker Hughes Incorporated (NYSE:BHI) : The highest level Baker Hughes Incorporated (NYSE:BHI) is projected to reach is $63 for the short term and the lowest estimate is at $38. The consolidated price target from 20 rating analysts who initiate coverage on the stock is $50.05 and the possibility the share price can swing is $7.6.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Citigroup maintains its outlook on Baker Hughes Incorporated (NYSE:BHI). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $53 per share to $54 per share. The rating by the firm was issued on May 19, 2016.

Baker Hughes Incorporated (NYSE:BHI): stock turned positive on Thursday. Though the stock opened at $46.89, the bulls momentum made the stock top out at $47.2 level for the day. The stock recorded a low of $46.475 and closed the trading day at $47.17, in the green by 2.41%. The total traded volume for the day was 2,108,004. The stock had closed at $46.06 in the previous days trading.

The company shares have dropped -25.78% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $62.63 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $45.95 and the 200 Day Moving Average price is recorded at $44.60. On the companys insider trading activities,The officer (VP, General Counsel) of Baker Hughes Inc, Marsh William D sold 1,500 shares at $49.1 on June 6, 2016. The Insider selling transaction had a total value worth of $73,650. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys 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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