Baker Hughes Incorporated (BHI) : Traders are bullish on Baker Hughes Incorporated (BHI) as it has outperformed the S&P 500 by a wide margin of 17.84% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.94%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.91% in the last 1 week, and is up 18.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Baker Hughes Incorporated is up 17.12% in the last 3-month period. Year-to-Date the stock performance stands at 15.48%. The stock has recorded a 20-day Moving Average of 10.92% and the 50-Day Moving Average is 14.24%.
Baker Hughes Incorporated (NYSE:BHI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.88 and $51.85 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $52.70, notching a gain of 1.25% for the day. The total traded volume was 3,339,035 . The stock had closed at $52.05 on the previous day.
Also, Brokerage firm Nomura maintains its rating on Baker Hughes Incorporated (NYSE:BHI). As per the latest information, the brokerage house raises the price target to $43 per share from a prior target of $38. The shares have been rated Neutral. The rating by the firm was issued on August 16, 2016.
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.