Baker Hughes Incorporated (BHI) Stake Cut by TCW Group Inc.

TCW Group Inc. cut its stake in Baker Hughes Incorporated (NYSE:BHI) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,818,213 shares of the oilfield services provider’s stock after selling 108,261 shares during the period. Baker Hughes makes up approximately 1.4% of TCW Group Inc.’s holdings, making the stock its 23rd largest position. TCW Group Inc. owned 0.66% of Baker Hughes worth $168,585,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BHI. Winch Advisory Services LLC purchased a new stake in Baker Hughes during the first quarter valued at about $104,000. First Manhattan Co. boosted its stake in Baker Hughes by 19.3% in the first quarter. First Manhattan Co. now owns 2,470 shares of the oilfield services provider’s stock valued at $124,000 after buying an additional 400 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in Baker Hughes by 89.2% in the first quarter. TrimTabs Asset Management LLC now owns 2,121 shares of the oilfield services provider’s stock valued at $127,000 after buying an additional 1,000 shares in the last quarter. First Bank & Trust boosted its stake in Baker Hughes by 11.8% in the first quarter. First Bank & Trust now owns 2,239 shares of the oilfield services provider’s stock valued at $134,000 after buying an additional 236 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in Baker Hughes by 21.5% in the first quarter. Trust Co. of Vermont now owns 2,260 shares of the oilfield services provider’s stock valued at $135,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Institutional Ownership by Quarter for Baker Hughes (NYSE:BHI)

Shares of Baker Hughes Incorporated (BHI) traded up 1.72% during midday trading on Friday, hitting $57.29. 3,687,710 shares of the stock were exchanged. The firm has a 50 day moving average of $57.13 and a 200-day moving average of $60.53. The stock’s market cap is $24.37 billion. Baker Hughes Incorporated has a 12 month low of $41.74 and a 12 month high of $68.59.

Baker Hughes (NYSE:BHI) last announced its quarterly earnings data on Tuesday, April 25th. The oilfield services provider reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.17. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.27 billion. Baker Hughes had a negative net margin of 19.99% and a negative return on equity of 4.55%. Baker Hughes’s revenue was down 15.3% on a year-over-year basis. During the same period last year, the firm posted ($1.58) EPS. Equities research analysts anticipate that Baker Hughes Incorporated will post $0.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Investors of record on Monday, May 8th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, May 4th. Baker Hughes’s payout ratio is currently -15.60%.

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Several analysts have issued reports on BHI shares. Citigroup Inc. reiterated a “buy” rating and issued a $70.00 target price (down from $75.00) on shares of Baker Hughes in a research note on Saturday, March 11th. BMO Capital Markets reiterated a “buy” rating and issued a $69.00 target price on shares of Baker Hughes in a research note on Thursday, April 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $80.00 target price on shares of Baker Hughes in a research note on Monday, April 3rd. Zacks Investment Research upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, March 29th. Finally, Tudor Pickering started coverage on shares of Baker Hughes in a research report on Thursday, March 23rd. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Baker Hughes presently has an average rating of “Hold” and a consensus target price of $62.02.

About Baker Hughes

Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Company also provides products and services for other businesses, including downstream chemicals, and process and pipeline services.

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