Sg Americas Securities Lowers stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Sg Americas Securities reduced its stake in Baker Hughes Incorporated by 25.99% during the most recent quarter end. The investment management company now holds a total of 1,001,259 shares of Baker Hughes Incorporated which is valued at $47,189,337 after selling 351,616 shares in Baker Hughes Incorporated , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Baker Hughes Incorporated makes up approximately 0.36% of Sg Americas Securities’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems boosted its stake in BHI in the latest quarter, The investment management firm added 2,100 additional shares and now holds a total of 80,070 shares of Baker Hughes Incorporated which is valued at $3,773,699. Baker Hughes Incorporated makes up approx 0.10% of Utah Retirement Systems’s portfolio.Louisiana State Employees Retirement System reduced its stake in BHI by selling 600 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 28,700 shares of BHI which is valued at $1,278,011. Baker Hughes Incorporated makes up approx 0.06% of Louisiana State Employees Retirement System’s portfolio.Security National Trust Co reduced its stake in BHI by selling 400 shares or 32.0% in the most recent quarter. The Hedge Fund company now holds 850 shares of BHI which is valued at $37,868. Baker Hughes Incorporated makes up approx 0.01% of Security National Trust Co’s portfolio.Factory Mutual Insurance Co reduced its stake in BHI by selling 707,270 shares or 80.16% in the most recent quarter. The Hedge Fund company now holds 175,000 shares of BHI which is valued at $7,920,500. Baker Hughes Incorporated makes up approx 0.10% of Factory Mutual Insurance Co’s portfolio.

Baker Hughes Incorporated opened for trading at $47.31 and hit $48.53 on the upside on Monday, eventually ending the session at $47.99, with a gain of 1.98% or 0.93 points. The heightened volatility saw the trading volume jump to 39,74,027 shares. Company has a market cap of $20,535 M.

On the company’s financial health, Baker Hughes Incorporated reported $-0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.29 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.61. The company had revenue of $2408.00 million for the quarter, compared to analysts expectations of $2319.69 million. The company’s revenue was down -39.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Baker Hughes Incorporated. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Hold”, Firm has raised the Price Target to $ 52 from a previous price target of $38 .Company shares were Reiterated by Scotia Howard Weil on Jul 29, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $49 .Company shares were Upgraded by Jefferies on Jul 11, 2016 to ” Hold”, Firm has raised the Price Target to $ 41 from a previous price target of $38 .

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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