Victory Capital Management Inc. raised its position in shares of Baker Hughes Inc. (NYSE:BHI) by 733.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 47,710 shares of the oilfield services provider’s stock after buying an additional 41,987 shares during the period. Victory Capital Management Inc.’s holdings in Baker Hughes were worth $2,153,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Baker Hughes during the fourth quarter worth approximately $174,562,000. Chevy Chase Trust Holdings Inc. boosted its stake in Baker Hughes by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 369,992 shares of the oilfield services provider’s stock worth $16,217,000 after buying an additional 10,522 shares in the last quarter. DnB Asset Management AS boosted its stake in Baker Hughes by 47.9% in the first quarter. DnB Asset Management AS now owns 37,680 shares of the oilfield services provider’s stock worth $1,652,000 after buying an additional 12,200 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in Baker Hughes by 9.1% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 106,607 shares of the oilfield services provider’s stock worth $4,673,000 after buying an additional 8,862 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Baker Hughes by 39.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 24,209 shares of the oilfield services provider’s stock worth $1,045,000 after buying an additional 6,793 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Inc. (NYSE:BHI) traded up 1.1622% during trading on Monday, hitting $48.9625. The company had a trading volume of 1,292,925 shares. The firm’s 50 day moving average is $49.18 and its 200-day moving average is $46.19. The stock’s market capitalization is $20.95 billion. Baker Hughes Inc. has a 52-week low of $37.58 and a 52-week high of $58.23.

Baker Hughes (NYSE:BHI) last posted its earnings results on Thursday, July 28th. The oilfield services provider reported ($0.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $0.31. Baker Hughes had a negative net margin of 25.14% and a negative return on equity of 4.46%. The company earned $2.40 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business posted ($0.14) EPS. The firm’s revenue for the quarter was down 39.3% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes Inc. will post ($2.22) earnings per share for the current year.

A number of equities research analysts have commented on BHI shares. Vetr cut Baker Hughes from a “buy” rating to a “hold” rating and set a $44.75 price target on the stock. in a report on Monday, May 23rd. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Baker Hughes in a report on Thursday, June 2nd. Citigroup Inc. reaffirmed a “buy” rating on shares of Baker Hughes in a report on Saturday, June 25th. Jefferies Group raised Baker Hughes from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $38.00 to $41.00 in a report on Monday, July 11th. Finally, GMP Securities cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $53.62.

In related news, SVP Alan R. Crain, Jr. sold 1,226 shares of Baker Hughes stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.00, for a total value of $58,848.00. Following the completion of the sale, the senior vice president now owns 50,159 shares in the company, valued at approximately $2,407,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alan J. Keifer sold 17,434 shares of Baker Hughes stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $52.70, for a total transaction of $918,771.80. Following the completion of the sale, the vice president now owns 41,374 shares of the company’s stock, valued at approximately $2,180,409.80. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Baker Hughes Company Profile

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 industrial products and services for other businesses, including downstream chemicals, and process and pipeline services.

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