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


General Electric Co (N:) on Friday reported a 14.4 percent rise in revenue, aided by the acquisition of oilfield services provider Baker Hughes (N:), but profit fell in the quarter. Usca Ria LLC now owns 5,000 shares of the oilfield services provider's stock valued at $252,000 after buying an additional 100 shares in the last quarter. 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.

"Oil prices remain volatile and, as a result, our customers remain cautious", Lorenzo Simonelli, chief executive of Baker Hughes, the world's No. 2 oilfield services firm, said. The 50 day moving average was down $-2.07 or -5.79% and the 200 day average was down $-11.96. Company shares have been seen trading -4.01% off of the 52 week high and 38.20% away from the 52 week low. Winslow Evans & Crocker Inc. lifted its stake in Baker Hughes A GE by 7.9% during the second quarter. The company did not give a comparable year-ago number.

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In other news, CFO Brian Worrell acquired 2,801 shares of Baker Hughes, a GE company Class A stock in a transaction that occurred on Wednesday, August 2nd. Partners Capital Investment Group Holdings LLC increased its position in shares of Baker Hughes A GE by 0.3% in the first quarter.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) traded down 3.41% during mid-day trading on Friday, reaching $32.02. Hedge funds and other institutional investors own 91.32% of the company's stock. Baker Hughes, a GE company Class A now has an average rating of "Hold" and a consensus target price of $41.69. If you are accessing this article on another domain, it was stolen and republished in violation of United States & worldwide copyright & trademark legislation.

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The oil and gas company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.05. The forecast of 22 surveyed investment analysts covering the stock advises investors to Buy stake in the company.

HSBC added BHGE to its research portfolio setting a rating of "Buy". The original version of this report can be accessed at One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock.

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