“n”>U.S. energy firms cut oil rigs for a second week in a row, data showed on Friday, a sign the latest price declines may be causing some drillers to put on hold their recently announced plans to return to the well pad.
Advertisement
Schlumberger shares dipped 1.7% in morning trade.
Over the past year, Baker Hughes Incorporated (NYSE:BHI) has issued payments of $0.17 per share to stock holders. Finally, Iberia Capital raised Baker Hughes to a “conviction list” rating in a research note on Wednesday, August 26th. Baker Hughes has an average rating of “Buy” and an average target price of $74.63. The heightened volatility saw the trading volume jump to 3,043,512 shares.
Crude prices were higher in the early morning trading session today on the back of the strong 4 percent upmove seen in the overnight session which was seen as a huge positive by traders and investors on the street. The company has a market cap of $23,097 million and there are 435,882,000 shares in outstanding. Crude oil prices are down more than 50% year-on-year, and a recovery in the short-term is highly unlikely.
In looking at the recent earnings performance from Baker Hughes Incorporated, the company reported earnings per share of $-0.14 for the quarter ending on 2014-12-31.
Advertisement
Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. The shares were sold at an average price of $60.73, for a total value of $1,028,584.01. Baker Hughes is a supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. It also provides industrial and other products and services to the downstream refining, and the process and pipeline industries. The Organization has four geographical operating segments: North America, Latin America, Europe/Africa/Russia Caspian and Middle East/Asia Pacific. Its Industrial Services segment consists of downstream chemicals and process and pipeline services businesses.
