Price Change to Note: Could Baker Hughes Incorporated Change Direction After Reaching 52-Week High?

Price Change to Note: Could Baker Hughes Incorporated Change Direction After Reaching 52 Week High?

The stock of Baker Hughes Incorporated (NYSE:BHI) hit a new 52-week high and has $86.81 target or 40.00% above today’s $62.01 share price. The 8 months bullish chart indicates low risk for the $27.05 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $86.81 price target is reached, the company will be worth $10.82B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 562,189 shares traded hands. Baker Hughes Incorporated (NYSE:BHI) has risen 30.88% since April 19, 2016 and is uptrending. It has outperformed by 27.02% the S&P500.

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. Baker Hughes Incorporated has been the topic of 55 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Monday, May 2, the company rating was maintained by Deutsche Bank. The stock of Baker Hughes Incorporated (NYSE:BHI) has “Underperform” rating given on Friday, April 8 by Jefferies. The rating was maintained by RBC Capital Markets on Monday, October 10 with “Outperform”. The company was maintained on Thursday, May 19 by Citigroup. The stock of Baker Hughes Incorporated (NYSE:BHI) earned “Neutral” rating by Goldman Sachs on Monday, May 9. The firm has “Neutral” rating by Nomura given on Tuesday, August 16. The firm earned “Outperform” rating on Wednesday, October 26 by Cowen & Co. The stock of Baker Hughes Incorporated (NYSE:BHI) earned “Equal-Weight” rating by Morgan Stanley on Monday, February 8. The firm has “Neutral” rating given on Tuesday, November 1 by Atlantic Securities. The rating was maintained by JP Morgan with “Neutral” on Thursday, April 28.

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.
Pinebridge Ltd Partnership last reported 10,902 shares in the company. Cacti Asset Mgmt Ltd Com holds 0.89% or 183,670 shares in its portfolio. Caxton Assoc L P last reported 60,000 shares in the company. Howard Hughes Med Institute reported 75,000 shares or 1.14% of all its holdings. Winslow Asset Management has 5,025 shares for 0.05% of their US portfolio. Delta Lloyd Nv holds 29,414 shares or 0.04% of its portfolio. State Bank Of America De last reported 745,491 shares in the company. Orbis Mngmt (Us) Llc last reported 2.1% of its portfolio in the stock. Engy Opportunities Management Limited Liability Company accumulated 3.77% or 277,151 shares. National Bank Of Ny Mellon Corporation owns 4.07 million shares or 0.06% of their US portfolio. Moreover, Pacific Heights Asset Limited Liability Corporation has 0.56% invested in Baker Hughes Incorporated (NYSE:BHI) for 135,000 shares. Kbc Nv has 58,835 shares for 0.04% of their US portfolio. Mitchell Gp has invested 2.89% of its portfolio in Baker Hughes Incorporated (NYSE:BHI). Lpl Financial Limited Liability has 0% invested in the company for 9,916 shares. Goodman Corporation has 84,512 shares for 2.28% of their US portfolio.

Insider Transactions: Since May 23, 2016, the stock had 1 buying transaction, and 9 selling transactions for $248,681 net activity. BRENNEMAN GREGORY D also bought $5.00 million worth of Baker Hughes Incorporated (NYSE:BHI) on Monday, November 14. CRAIN ALAN R JR had sold 3,000 shares worth $159,000 on Friday, October 7. MARSH WILLIAM D sold $233,515 worth of stock or 5,000 shares. Nouh Khalid M also sold $784,550 worth of Baker Hughes Incorporated (NYSE:BHI) shares. Chariag Belgacem also sold $871,305 worth of Baker Hughes Incorporated (NYSE:BHI) on Wednesday, November 9. On Friday, August 19 the insider KEIFER ALAN J sold $918,787.

More news for Baker Hughes Incorporated (NYSE:BHI) were recently published by: Fool.com, which released: “Baker Hughes Incorporated’s Q3 Earnings Show a Company Headed in the Right …” on October 25, 2016. Etfdailynews.com‘s article titled: “GE, Baker Hughes Merge Oil & Gas Businesses” and published on October 31, 2016 is yet another important article.

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.

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