Jefferies & Co issued a target price of 34 on Baker Hughes Incorporated’s stock. The business earned $3.40 billion during the quarter, compared to analyst estimates of $3.47 billion. On an intraday basis, the price dropped -0.92 points or -2.15%. Nomura Securities in their coverage of the stock, were surprisingly bullish about the future of both companies and saw upsides to the merger as well as in the situation in which the DOJ successfully blocked the merger between the companies.
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Other Hedge Funds, Including, Martin Currie Ltd reduced its stake in BHI by selling 8,100 shares or 68.07% during the fourth quarter. The shares of Baker Hughes Incorporated now has mean rating of Outperform while 12 analysts have recommended the shares as BUY, 12 recommended as OUTPERFORM and 7 recommended as HOLD.
The company shares have dropped -33.31% from its 1 Year high price. Halliburton’s offer to Baker Hughes valued the company’s shares at $59 apiece. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. The 52-week low of the share price is $37.58.
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The latest figures from the Baker Hughes Inc. The Company has four geographical operating segments: North America Latin America Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The company offers drilling and evaluation products and services, which include drill bits for performance drilling, hole enlargement, and coring; conventional and rotary steerable systems used to drill wells; measurement-while-drilling and logging-while-drilling systems to perform reservoir navigation services; drilling optimization services; tools for coil tubing drilling and wellbore re-entry systems; coring drilling systems; surface logging; emulsion and water-based drilling fluids systems; reservoir drill-in fluids; and fluids environmental services. The Companys Integrated Operations is focused on the execution of projects that have attributes such as project management well site supervision well construction intervention third-party contractor management procurement and rig management.
