City Holding Co. lowered its position in Baker Hughes Incorporated (NYSE:BHI) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 15,136 shares of the oilfield services provider’s stock after selling 175 shares during the period. City Holding Co.’s holdings in Baker Hughes were worth $905,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its stake in Baker Hughes by 69.7% in the third quarter. Nationwide Fund Advisors now owns 207,909 shares of the oilfield services provider’s stock worth $10,493,000 after buying an additional 85,370 shares during the last quarter. Parkwood LLC increased its stake in Baker Hughes by 3.6% in the third quarter. Parkwood LLC now owns 5,573 shares of the oilfield services provider’s stock worth $281,000 after buying an additional 196 shares during the last quarter. Rathbone Brothers plc increased its stake in Baker Hughes by 2.2% in the third quarter. Rathbone Brothers plc now owns 9,418 shares of the oilfield services provider’s stock worth $475,000 after buying an additional 200 shares during the last quarter. Dearborn Partners LLC purchased a new stake in Baker Hughes during the third quarter worth approximately $201,000. Finally, Conning Inc. increased its stake in Baker Hughes by 4.7% in the third quarter. Conning Inc. now owns 11,040 shares of the oilfield services provider’s stock worth $557,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

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

Shares of Baker Hughes Incorporated (NYSE:BHI) traded up 0.05% during trading on Thursday, hitting $59.50. 1,945,039 shares of the stock traded hands. Baker Hughes Incorporated has a one year low of $41.74 and a one year high of $68.59. The firm has a 50 day moving average price of $59.45 and a 200-day moving average price of $60.13. The company’s market cap is $25.31 billion.

Baker Hughes (NYSE:BHI) last released its quarterly earnings results on Thursday, January 26th. The oilfield services provider reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.19. The firm earned $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Baker Hughes had a negative net margin of 27.82% and a negative return on equity of 5.64%. Baker Hughes’s quarterly revenue was down 29.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) earnings per share. Analysts anticipate that Baker Hughes Incorporated will post $0.25 earnings per share for the current fiscal year.

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A number of analysts have recently commented on BHI shares. Jefferies Group LLC restated a “hold” rating and set a $73.00 price objective (up from $57.00) on shares of Baker Hughes in a report on Wednesday, December 21st. Zacks Investment Research downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, December 21st. Susquehanna Bancshares Inc downgraded Baker Hughes from a “positive” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Wednesday, January 4th. Credit Suisse Group AG downgraded Baker Hughes from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $61.00 to $65.00 in a report on Wednesday, January 4th. Finally, BMO Capital Markets set a $69.00 price objective on Baker Hughes and gave the stock a “buy” rating in a report on Thursday, January 12th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Baker Hughes has a consensus rating of “Hold” and a consensus price target of $60.71.

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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