Baker Hughes Rig Count Climbs for 18th Straight Week

An oil rig drilling a well at sunrise near Midland Texas

What's Baker Hughes Incorporated (NYSE:BHI) Upside After This Short Interest Increase?

Revenue during the period amounted to $2.41B, while analysts were anticipating $2.37B. FBR & Co also issued estimates for Baker Hughes' Q3 2017 earnings at $0.23 EPS, Q4 2017 earnings at $0.35 EPS and FY2017 earnings at $0.55 EPS. The company reported EPS of $-0.24, below the consensus estimate calling for EPS of $-0.21 - a negative surprise of -12.62%. Revenue during that quarter was posted at $2.35B, whereas the consensus estimate was predicting $2.41B. Baker Hughes had a negative return on equity of 5.64% and a negative net margin of 27.82%. During the same quarter previous year, the firm posted ($1.58) EPS.

In the quarter ending September 2016, Baker Hughes Incorporated delivered an even larger earnings beat. BHI's total short interest was 11.50 million shares in May as published by FINRA. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & global trademark & copyright law. The legal version of this piece of content can be read at https://sportsperspectives.com/2017/05/19/research-analysts-issue-forecasts-for-baker-hughes-incorporateds-q2-2017-earnings-bhi-updated-updated.html.

A number of other equities analysts also recently issued reports on BHI. Scotiabank set a $69.00 price objective on shares of Baker Hughes and gave the stock a "hold" rating in a report on Wednesday, March 22nd. DA Davidson initiated the stock with "Buy" rating in Friday, February 19 report.

The company's consensus rating is now Hold, with 8 analysts rating it a Strong Buy, and 11 analysts rating it with a Hold. Amalgamated State Bank holds 0.08% of its portfolio in Baker Hughes Incorporated (NYSE:BHI) for 28,754 shares.

Baker Hughes (NYSE:BHI) traded down 0.52% during mid-day trading on Friday, reaching $57.13. 2,080,040 shares of the company's stock traded hands. The company has market cap of $24.49 billion. The company's 50-day moving average is $59.36 and its 200-day moving average is $61.01. The company's 52-week range is $41.23 to $68.21.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in shares of Baker Hughes during the first quarter valued at approximately $104,000. ValueAct Holdings L.P. increased its position in shares of Baker Hughes by 14.6% in the first quarter. Municipal Employees Retirement System of MI now owns 13,870 shares of the oilfield services provider's stock worth $700,000 after buying an additional 40 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Baker Hughes by 15.9% in the first quarter. There was also an increase of 3 in the Mississippian Basin to 9. Partners Capital Investment Group Holdings LLC now owns 1,944 shares of the oilfield services provider's stock worth $116,000 after buying an additional 5 shares in the last quarter. Rockefeller invested in 2,493 shares or 0% of the stock. Stockholders of record on Monday, May 8th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, May 4th. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Baker Hughes's payout ratio is -10.83%.

Conning Inc has invested 0.03% in Baker Hughes Incorporated (NYSE:BHI). The Firm is a supplier of oilfield services, products, technology and systems used in the oil and natural gas industry around the world. The Firm also provides services and products for other businesses, including downstream chemicals, and process and pipeline services.

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