Published: Sat, October 21, 2017
Business | By Max Garcia

The Jefferies Group Increases Baker Hughes Inc. (BHI) Price Target to $57.00

The Jefferies Group Increases Baker Hughes Inc. (BHI) Price Target to $57.00

The oil rig count fell seven to 736 in the week to October 20, the lowest level since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.

Excluding items, industrial cash flows from operating activities was $1.74 billion in the third quarter ended September 30, compared with $2.90 billion, a year earlier.

At the moment 32 analysts are watching Baker Hughes, a GE company (NASDAQ:BHGE), 5 rate it "Buy", 9 "Outperform", 16 "Underperform", 2 "Sell", while 0 "Hold".

On a combined business basis revenue was flat at $5.38 billion, the company said. BMO Capital Markets reiterated a "buy" rating and set a $50.00 target price on shares of Baker Hughes in a research report on Friday, July 29th. HSBC Holdings plc restated a "hold" rating and set a $58.00 price target (down previously from $60.00) on shares of Baker Hughes A GE in a research note on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The business earned $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Additionally the company recently announced a dividend for shareholders paid on Friday the 25th of August 2017. Following the transaction, the chief financial officer now directly owns 2,801 shares in the company, valued at approximately $98,707.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Share performance for the month is now at -3.24%. Winslow Evans & Crocker Inc. now owns 1,880 shares of the oilfield services provider's stock worth $103,000 after purchasing an additional 138 shares during the period. Following the completion of the transaction, the insider now owns 9,139 shares in the company, valued at $301,495.61. South Dakota Investment Council bought a new stake in Baker Hughes, a GE company Class A in the 2nd quarter valued at about $4,610,000. The Company is a provider of integrated oilfield products, services and digital solutions. Highbridge Capital Management LLC raised its stake in Baker Hughes by 429.2% in the third quarter.

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