Today’s Price Action: Time to Reconsider Baker Hughes Incorporated After Making 52-Week High?

Today's Price Action: Time to Reconsider Baker Hughes Incorporated After Making 52 Week High?

The stock of Baker Hughes Incorporated (NYSE:BHI) hit a new 52-week high and has $63.42 target or 3.00% above today’s $61.57 share price. The 9 months bullish chart indicates low risk for the $25.98 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $63.42 price target is reached, the company will be worth $779.40 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.33 million shares traded hands. Baker Hughes Incorporated (NYSE:BHI) has risen 37.39% since April 25, 2016 and is uptrending. It has outperformed by 31.37% the S&P500.

Analysts await Baker Hughes Incorporated (NYSE:BHI) to report earnings on January, 26. They expect $-0.14 EPS, up 33.33% or $0.07 from last year’s $-0.21 per share. After $-0.15 actual EPS reported by Baker Hughes Incorporated for the previous quarter, Wall Street now forecasts -6.67% EPS growth.

Baker Hughes Incorporated (NYSE:BHI) Ratings Coverage

Out of 25 analysts covering Baker Hughes Incorporated (NYSE:BHI), 16 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 64% are positive. $81 is the highest target while $34 is the lowest. The $55.02 average target is -10.64% below today’s ($61.57) stock price. Baker Hughes Incorporated has been the topic of 55 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, July 11 by Jefferies. The stock has “Overweight” rating given by Barclays Capital on Monday, March 28. The stock has “Buy” rating given by Citigroup on Wednesday, July 13. The firm earned “Sector Outperform” rating on Thursday, October 27 by Howard Weil. The rating was downgraded by Raymond James to “Outperform” on Tuesday, November 1. Citigroup maintained the stock with “Buy” rating in Monday, October 5 report. The firm has “Buy” rating by Citigroup given on Wednesday, March 23. On Thursday, May 19 the stock rating was maintained by Citigroup with “Buy”. As per Tuesday, August 16, the company rating was maintained by Nomura. The firm has “Neutral” rating by JP Morgan given on Thursday, April 28.

According to Zacks Investment Research, “Baker Hughes Inc. is engaged in the oilfield and process industries. In addition, the company manufactures and sells other products and provides services to industries that are not related to the oilfield or continuous process industries. The company conducts certain of its operations through joint ventures, partnerships or alliances.”

Insitutional Activity: The institutional sentiment increased to 1.04 in 2016 Q2. Its up 0.11, from 0.93 in 2016Q1. The ratio improved, as 86 funds sold all Baker Hughes Incorporated shares owned while 197 reduced positions. 83 funds bought stakes while 181 increased positions. They now own 371.39 million shares or 0.31% less from 372.55 million shares in 2016Q1.
Proshare Advsr Ltd Liability Corp accumulated 0.04% or 75,695 shares. Stevens Mngmt L P has invested 0.1% of its portfolio in Baker Hughes Incorporated (NYSE:BHI). Cs Mckee L P has invested 2.04% of its portfolio in Baker Hughes Incorporated (NYSE:BHI). Finance Architects Inc owns 311 shares or 0% of their US portfolio. The New York-based Jane Street Group Ltd Co has invested 0% in Baker Hughes Incorporated (NYSE:BHI). Citadel Llc holds 0.18% or 3.55M shares in its portfolio. Osborn Rohs Williams And Donohoe Limited last reported 22,046 shares in the company. Sfe Counsel accumulated 17,715 shares or 0.37% of the stock. Duncker Streett Company Incorporated has 513 shares for 0.01% of their US portfolio. Pzena Invest Mngmt Limited Liability Co last reported 1.38 million shares in the company. Azimuth Capital Mngmt Limited last reported 5,800 shares in the company. South Dakota Council reported 430,402 shares or 0.43% of all its holdings. Cowen Gru holds 0.21% or 69,320 shares in its portfolio. Veritable Ltd Partnership holds 19,650 shares or 0.02% of its portfolio. Cap Fund Mngmt Sa has invested 0.19% of its portfolio in Baker Hughes Incorporated (NYSE:BHI).

Insider Transactions: Since June 1, 2016, the stock had 1 buying transaction, and 8 insider sales for $482,196 net activity. Shares for $871,305 were sold by Chariag Belgacem. Another trade for 25,999 shares valued at $1.32 million was made by CRAIN ALAN R JR on Tuesday, August 16. MARSH WILLIAM D sold $233,515 worth of stock. $5.00M worth of Baker Hughes Incorporated (NYSE:BHI) shares were bought by BRENNEMAN GREGORY D. KEIFER ALAN J also sold $918,787 worth of Baker Hughes Incorporated (NYSE:BHI) shares. $784,550 worth of Baker Hughes Incorporated (NYSE:BHI) shares were sold by Nouh Khalid M.

Another recent and important Baker Hughes Incorporated (NYSE:BHI) news was published by Etfdailynews.com which published an article titled: “GE, Baker Hughes Merge Oil & Gas Businesses” on October 31, 2016.

BHI Company Profile

Baker Hughes Incorporated, incorporated on November 3, 1986, is engaged in the oilfield services industry. The Firm is a supplier of oilfield services, products, technology and systems in the oil and natural gas industry around the world. The Firm also provides industrial services and products for other businesses, including downstream chemicals, and process and pipeline services. It conducts its activities through its subsidiaries, affiliates, ventures and alliances. The Firm has four geographical operating divisions: North America, Latin America, Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Firm also has an Industrial Services segment, which includes the downstream chemicals business and the process and pipeline services business.

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