Is Buying Stock Like Baker Hughes Incorporated Good Idea After Today’s Bullish Options Activity?

 Is Buying Stock Like Baker Hughes Incorporated Good Idea After Today's Bullish Options Activity?

In today’s session Baker Hughes Incorporated (BHI) registered an unusually high (1,174) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious BHI increase. With 1,174 contracts traded and 15184 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: BHI170120C00060000 closed last at: $3.7 or 5.1% down. About 857,405 shares traded hands. Baker Hughes Incorporated (NYSE:BHI) has risen 28.85% since April 27, 2016 and is uptrending. It has outperformed by 23.62% 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 -13.48% below today’s ($63.59) stock price. Baker Hughes Incorporated has been the topic of 55 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Monday, February 8, the company rating was downgraded by Morgan Stanley. The company was upgraded on Wednesday, October 26 by Cowen & Co. The rating was maintained by Howard Weil on Friday, July 29 with “Sector Outperform”. Citigroup maintained the shares of BHI in a report on Wednesday, July 13 with “Buy” rating. Jefferies maintained the shares of BHI in a report on Friday, July 29 with “Hold” rating. Argus Research upgraded the stock to “Buy” rating in Thursday, October 22 report. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, October 10. The stock has “Speculative Buy” rating given by Seaport Global on Thursday, December 3. The firm has “Hold” rating given on Wednesday, April 6 by Deutsche Bank. DA Davidson initiated the shares of BHI in a report on Friday, February 19 with “Buy” rating.

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 increased, 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.
Northern accumulated 5.03 million shares or 0.07% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 94,321 shares in the company. The Nebraska-based Ameritas Investment Partners has invested 0.03% in Baker Hughes Incorporated (NYSE:BHI). Washington Trust Bankshares has 0% invested in the company for 52 shares. Barclays Public Limited Com owns 541,134 shares or 0.03% of their US portfolio. Norinchukin National Bank & Trust The last reported 22,970 shares in the company. Gruss Cap Mngmt L P has 600,000 shares for 0.87% of their US portfolio. Mufg Americas Corp has 0.01% invested in the company for 4,000 shares. Eagleclaw Managment Limited Liability Com accumulated 0.37% or 12,400 shares. Natl Bank Of Nova Scotia last reported 0% of its portfolio in the stock. Toronto Dominion Bancorporation last reported 0% of its portfolio in the stock. Gam Ag owns 60,217 shares or 0.04% of their US portfolio. Neuberger Berman Ltd Liability accumulated 8,987 shares or 0% of the stock. Greenwood Gearhart accumulated 51,510 shares or 0.99% of the stock. Millennium Mgmt Ltd last reported 1.29 million shares in the company.

Insider Transactions: Since June 1, 2016, the stock had 1 buy, and 7 insider sales for $1.27 million net activity. Another trade for 85,000 shares valued at $5.00 million was made by BRENNEMAN GREGORY D on Monday, November 14. $233,515 worth of Baker Hughes Incorporated (NYSE:BHI) was sold by MARSH WILLIAM D. CRAIN ALAN R JR also sold $58,848 worth of Baker Hughes Incorporated (NYSE:BHI) shares. 17,000 shares were sold by Nouh Khalid M, worth $784,550 on Friday, June 3. Another trade for 17,434 shares valued at $918,787 was made by KEIFER ALAN J on Friday, August 19. Chariag Belgacem sold 15,000 shares worth $871,305.

Baker Hughes Incorporated is engaged in the oilfield services industry. The company has a market cap of $26.54 billion. The Firm is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. It currently has negative earnings. The Firm also provides industrial services and products for other businesses, including downstream chemicals, and process and pipeline services.

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.

More news for Baker Hughes Incorporated (NYSE:BHI) were recently published by: Streetinsider.com, which released: “Baker Hughes (BHI), CSL Capital, Goldman’s (GS) WSEP to Form Pure-Play Land …” on November 29, 2016. Investorplace.com‘s article titled: “Why Centurylink Inc (CTL), Baker Hughes Incorporated (BHI) and Zimmer Biomet …” and published on October 31, 2016 is yet another important article.

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