Cacti Asset Management Lowers stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Cacti Asset Management reduced its stake in Baker Hughes Incorporated by 4.0% during the most recent quarter end. The investment management company now holds a total of 176,320 shares of Baker Hughes Incorporated which is valued at $9,031,110 after selling 7,350 shares in Baker Hughes Incorporated , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Baker Hughes Incorporated makes up approximately 0.92% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi added BHI to its portfolio by purchasing 2,700 company shares during the most recent quarter which is valued at $138,294. Baker Hughes Incorporated makes up approx 0.04% of Lvm Capital Management Ltdmi’s portfolio.

Baker Hughes Incorporated closed down -0.07 points or -0.14% at $49.96 with 23,61,131 shares getting traded on Tuesday. Post opening the session at $50.18, the shares hit an intraday low of $49.58 and an intraday high of $50.23 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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