Foyston Gordon & Payne Inc boosted its stake in shares of Baker Hughes Incorporated (NYSE:BHI) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,401 shares of the oilfield services provider’s stock after buying an additional 16,607 shares during the period. Baker Hughes comprises approximately 1.5% of Foyston Gordon & Payne Inc’s holdings, making the stock its 25th largest position. Foyston Gordon & Payne Inc’s holdings in Baker Hughes were worth $6,963,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ngam Advisors L.P. raised its position in shares of Baker Hughes by 16.8% in the first quarter. Ngam Advisors L.P. now owns 106,993 shares of the oilfield services provider’s stock valued at $6,401,000 after buying an additional 15,397 shares in the last quarter. Sentry Investment Management LLC raised its position in shares of Baker Hughes by 1.3% in the first quarter. Sentry Investment Management LLC now owns 33,074 shares of the oilfield services provider’s stock valued at $1,978,000 after buying an additional 416 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Baker Hughes by 7.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,230 shares of the oilfield services provider’s stock valued at $313,000 after buying an additional 355 shares in the last quarter. Legal & General Group Plc raised its position in shares of Baker Hughes by 2.5% in the first quarter. Legal & General Group Plc now owns 2,078,636 shares of the oilfield services provider’s stock valued at $124,346,000 after buying an additional 51,388 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Baker Hughes by 3.0% in the first quarter. PNC Financial Services Group Inc. now owns 73,331 shares of the oilfield services provider’s stock valued at $4,387,000 after buying an additional 2,106 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

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

Baker Hughes Incorporated (NYSE BHI) traded up 1.72% on Friday, reaching $57.29. 3,687,710 shares of the company traded hands. Baker Hughes Incorporated has a 52-week low of $41.74 and a 52-week high of $68.59. The stock has a 50-day moving average of $57.13 and a 200 day moving average of $60.53. The company’s market capitalization is $24.37 billion.

Baker Hughes (NYSE:BHI) last issued its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.17. Baker Hughes had a negative net margin of 19.99% and a negative return on equity of 4.55%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business posted ($1.58) earnings per share. The company’s quarterly revenue was down 15.3% on a year-over-year basis. On average, equities analysts forecast that Baker Hughes Incorporated will post $0.02 EPS for the current year.

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

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Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Baker Hughes from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub upgraded Baker Hughes from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. ValuEngine upgraded Baker Hughes from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $67.00 price target on Baker Hughes and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $72.00 price target on shares of Baker Hughes in a research note on Friday, May 26th. Three 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 assigned a strong buy rating to the stock. Baker Hughes has an average rating of “Hold” and an average 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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