Economy

New Baker Hughes posts $104M loss under GE

Baker Hughes, a GE company, had seen growth in the booming USA shale market, but new Baker Hughes Chairman and CEO Lorenzo Simonelli cited a "deceleration" in the third quarter with the US land rig count up just 6 percent in the quarter, versus 40 percent for the full year. Following the completion of the sale, the vice president now directly owns 76,768 shares of the company's stock, valued at approximately $4,459,453.12.

Earnings, adjusted for non-recurring costs, came to 5 cents per share. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. Looking back over the last month, shares have performed -9.60%. Based in USA, Baker Hughes, a GE company has a market cap of 38.92B. Over the last five days, shares have faced -1.72% losses and now is down -13.52% since hitting its 200-day moving average of $45.59.

It has been a long while for Baker Hughes, a GE company, since its IPO date on 6/30/2017. Aperio Group LLC now owns 211,193 shares of the oilfield services provider's stock valued at $11,512,000 after buying an additional 8,209 shares in the last quarter. The ability for Baker Hughes, a GE company to pay these debts is as follows; current ratio is 3.7 and quick ratio comes to 2.9.

Stock analysts at UBS AG began coverage on shares of Baker Hughes A GE Co (NYSE:BHI) in a research note issued to investors on Thursday. Finally, Stevens Capital Management LP acquired a new stake in shares of Baker Hughes A GE in the second quarter valued at about $9,405,000.

BHI has been the subject of a number of recent research reports.

HSBC added BHGE to its research portfolio setting a rating of "Buy". BMO Capital Markets reiterated a "hold" rating and issued a $65.00 price target on shares of Baker Hughes A GE in a research note on Thursday, June 22nd.

It will be interesting to see how Baker Hughes, a GE company does in the future, and for investors alike.

Heading into the earnings release, covering sell-side analysts have a consensus target price of $46.11 on Baker Hughes, a GE company shares. The first trade took place at $33.84 and the stock went up 0.03% to attain the closing price of $33.8. The company presently has an average rating of "Buy" and an average target price of $54.76.

TRADEMARK VIOLATION WARNING: This article was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another website, it was stolen and republished in violation of United States & worldwide copyright law.

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. The Company is a provider of integrated oilfield products, services and digital solutions.



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