Meeder Asset Management Inc. bought a new position in Baker Hughes Incorporated (NYSE:BHI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,416 shares of the oilfield services provider’s stock, valued at approximately $949,000.

A number of other hedge funds have also recently bought and sold shares of BHI. BlackRock Inc. boosted its position in Baker Hughes by 1,858.5% in the first quarter. BlackRock Inc. now owns 32,833,178 shares of the oilfield services provider’s stock worth $1,964,079,000 after buying an additional 31,156,767 shares during the period. ValueAct Holdings L.P. boosted its position in Baker Hughes by 14.6% in the first quarter. ValueAct Holdings L.P. now owns 31,407,820 shares of the oilfield services provider’s stock worth $1,878,816,000 after buying an additional 4,000,000 shares during the period. Vanguard Group Inc. boosted its position in Baker Hughes by 3.5% in the first quarter. Vanguard Group Inc. now owns 29,075,548 shares of the oilfield services provider’s stock worth $1,739,299,000 after buying an additional 991,070 shares during the period. Dodge & Cox bought a new position in Baker Hughes during the fourth quarter worth $1,667,596,000. Finally, American Century Companies Inc. boosted its position in Baker Hughes by 5.7% in the first quarter. American Century Companies Inc. now owns 5,902,846 shares of the oilfield services provider’s stock worth $353,108,000 after buying an additional 317,615 shares during the period. Institutional investors own 91.32% of the company’s stock.

Baker Hughes Incorporated (NYSE:BHI) opened at 57.68 on Monday. Baker Hughes Incorporated has a one year low of $43.09 and a one year high of $68.59. The company has a 50-day moving average price of $55.90 and a 200-day moving average price of $59.83.

Baker Hughes (NYSE:BHI) last posted its earnings results on Tuesday, April 25th. The oilfield services provider reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.17. Baker Hughes had a negative return on equity of 4.55% and a negative net margin of 19.99%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned ($1.58) earnings per share. The business’s revenue was down 15.3% compared to the same quarter last year. Equities analysts anticipate that Baker Hughes Incorporated will post $0.01 earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on BHI shares. HSBC Holdings plc reissued a “hold” rating and issued a $58.00 price target (down from $60.00) on shares of Baker Hughes in a report on Thursday, June 22nd. Royal Bank Of Canada reissued a “buy” rating and issued a $72.00 price target on shares of Baker Hughes in a report on Friday, May 26th. ValuEngine raised Baker Hughes from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Tudor Pickering cut Baker Hughes from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Evercore ISI set a $72.00 price target on Baker Hughes and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $60.80.

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

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