|Bid||18.87 x 0|
|Ask||18.95 x 0|
|Day's Range||18.57 - 18.88|
|52 Week Range||18.52 - 25.13|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by one to 679 this week. That followed modest increases in each of the last two weeks. The total active U.S. rig count, meanwhile, also climbed by 1 to 791, according to Baker Hughes. Oil prices continued their decline, with April West Texas Intermediate crude down 36 cents, or 0.7%, at $53.52 a barrel. It was trading at $53.45 before the rig data.
Baker Hughes (BKR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Younger generations aren’t hearing the calling to an oil industry that is gearing up for a dramatic talent shortage as mature experts begin to retire
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by two to 678 this week. The total active U.S. rig count, meanwhile, was unchanged at 790, according to Baker Hughes. Oil prices continued to gain, with March West Texas Intermediate crude up 39 cents, or 0.8%, at $51.81 a barrel. It was trading at $51.72 before the rig data.
Talk about a blast from the past. General Electric (NYSE:GE) stock is up over 16% so far this year, thanks in part to a better-than-expected earnings report last week that has some believing there's new life in the beleaguered company.Source: JPstock/Shutterstock.com Bank of America analyst Andrew Obin raised his price target for GE stock by 33%, to $16 per share. He also upgraded the stock from "hold" to "buy" after the company blew away expectations by posting earnings of 21 cents per share and revenue of $26.2 billion. Analysts had expected earnings of 18 cents per share and revenue of $25.6 billion.GE bulls were also cheered by the company's free cash flow of $2.3 billion, which was at the upper end of guidance.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe positive report gave CEO Larry Culp something to crow about. And since he took over the top post in October 2018, he hasn't had much to celebrate."We're proud of our progress in 2019, including decisive actions to reduce our leverage and strengthen our businesses," Culp said in a press statement. "Our work continues, but GE's committed team, exceptional technology, and global network make me more confident than ever that we can deliver."Should you believe in the GE turnaround story? As ESPN's Lee Corso would say, not so fast, my friends. As a stock, General Electric is in deep, deep water. A one-quarter turnaround is just the first step of a long journey toward redemption. GE Stock Is Still TroubledIt hasn't been so long since General Electric earnings really mattered. Since the company is one of the first in the cycle to issue its report, GE earnings used to be a bellwether for the stock market and the general economy.Man, have times changed.GE was one of the original members of the Dow Jones Industrial Average. It was known for everything from light bulbs to home appliances, aviation, power and even healthcare. Even as recently as 20 years ago, it had a market capitalization of $600 billion. That made it one of the most valuable public companies in the United States.But it all fell apart, thanks to a failed effort to invest in the homeland security business and disastrous bets on the oil and gas industry. The company's deal to merge with Baker Hughes (NYSE:BKR) has been particularly painful.Subprime mortgages also killed General Electric just a few years later."In 2004, with U.S. home prices rocketing, GE paid $500 million for a subprime mortgage company called WMC. In 2007, with home prices falling, GE laid off most WMC employees and sold the company, which lost $1 billion that year," Fortune's Geoff Colvin wrote. "This past February, GE announced that the Justice Department 'is likely to assert' violations of law at WMC when GE owned it, and GE reserved $1.5 billion against a possible penalty"That's beyond painful. It's crippling.And then there's the dividend. General Electric was one of the most reliable dividend stocks before it lost 60% of its market cap between late 2016 and early 2018. That drop came even while the rest of the stock market was rising. GE cut its dividend in half, from 24 cents to 12 cents, in April 2018, then shaved it down to just a penny later that year. The Bottom LineJeff Immelt, who succeeded longtime CEO Jack Welch, gets most of the blame for GE's fall.Immelt's abject failure as CEO even casts a pall on the legacy of his predecessor, under whose leadership GE's value rose by 4,000% from 1981 to 2001.Although it was once a blue-chip stalwart GE's time as a dependable stock has come and gone. It was booted from the Dow in 2018 -- a huge embarrassment -- and GE stock is down 49% in the last five years. It completely missed out on the bull run that pushed the Dow and the S&P 500 to repeated new heights.If you are to believe this turnaround story then you have to accept the fact that GE is standing at the bottom of a veritable ocean of mismanagement, weak performance and an outdated business model. It has years to go before it breaks the surface. And you're likely to drown if you go along for the ride.There are better stocks out there than GE. Appreciate that there's a temporary bump in the stock price, sell GE stock and move on to greener pastures.Patrick Sanders is a freelance writer and editor in Maryland, and from 2015 to 2019 was head of the investment advice section at U.S. News & World Report. Follow him on Twitter at @1patricksanders. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Utility Stocks to Buy That Offer Juicy Dividends * 10 Gold and Silver Stocks to Profit Off 2020's Fear Trade * 3 Top Companies That Should Be More Careful With Your Data The post Despite the Q4 Win, It's Time to Sell General Electric Stock appeared first on InvestorPlace.
Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for January 2020 was 1,078, down 26 from the 1,104 counted in December 2019, and up 54 from the 1,024 counted in January 2019. The international offshore rig count for January 2020 was 245, down 12 from the 257 counted in December 2019, and up 3 from the 242 counted in January 2019.
Baker Hughes (NYSE:BKR) and C3.ai today announced the launch of BHC3 Production Optimization™, an AI-based application that allows well operators to view real-time production data, better project future production, and help optimize operations for improved oil and gas production rates. The application is the latest addition to the growing portfolio of BHC3 artificial intelligence (AI) applications.
After another week of faltering oil prices as the coronavirus outbreak continues to spook the market, Baker Hughes reported that the number of oil and gas rigs in the US decreased this week
Last week, you might have seen that Baker Hughes Company (NYSE:BKR) released its annual result to the market. The...
Baker Hughes reported a small rise in the oil rig count while reporting a decline in gas rigs for the week ending January 24th
Baker Hughes (NYSE: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on February 14, 2020 to holders of record on February 3, 2020.
The unit, Turbomachinery & Process Solutions (TPS), was one of Baker Hughes' strongest in the earlier quarters of 2019, as U.S. LNG developers built new capacity to tap global demand for a cleaner alternative to coal-fired power plants. The company expects TPS revenues to grow 20% this year and margins to expand. U.S. exports of LNG hit a record in October and November, averaging 5.8 billion cubic feet per day (bcfd) and 6.3 bcfd, respectively, according to the U.S. Energy Information Administration.
Baker Hughes Co. reported Wednesday fourth-quarter profit and revenue that rose less than expected, as beats in oilfield services and turbomachinery and process solutions revenue was offset by a miss in oilfield equipment. The stock was still inactive in premarket trading. Net income fell to $48 million, or 7 cents a share, from $131 million, or 28 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to 27 cents from 26 cents, but were below the FactSet consensus of 31 cents. Revenue increased 1% to $6.35 billion, missing the FactSet consensus of $6.48 billion. Orders increased 1% to $6.94 billion. Oilfield services revenue rose 7% to $3.29 billion, above the FactSet consensus of $3.28 billion; turbomachinery revenue fell 8% to $1.32 billion, below expectations of $1.82 billion; oilfield equipment revenue rose 5% to $765 million, beating expectations of $753 million. The stock has gained 0.4% over the past three months, while the SPDR Energy Select Sector ETF has slipped 1.3% and the S&P 500 has gained 10.8%.
Baker Hughes Company (NYSE: BKR) ("Baker Hughes" or the "Company") announced results today for the fourth quarter and total year 2019.
Dow component Johnson & Johnson earnings and existing home sales for December will be the focal points for investors Wednesday.
Investors are starting to believe in General Electric (NYSE:GE) again. GE stock has rallied some 54% from August lows. And there's a case that the rally can continue.Source: testing / Shutterstock.com After all, the bull case for General Electric stock rests on a turnaround engineered by chief executive officer Larry Culp. Culp transformed Danaher (NYSE:DHR) into a technology powerhouse; Danaher stock rose some 530% during his 14-year tenure. * 10 Cheap Stocks to Buy Under $10 Culp's appointment as General Electric's CEO on Oct. 1, 2018 was greeted with hopes that Culp could work similar magic: GE stock rose 7.1% on the news. But that enthusiasm has dimmed over time. Even with the rally over the past five months, General Electric shares are up less than 2% in the fifteen-plus months since Culp's hiring was announced.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe lack of upside so far suggests that more upside could be on the way if General Electric can drive the hoped-for turnaround. That's still a huge 'if,' however. Fourth quarter earnings on Jan. 29 will be huge in establishing how much progress GE is making -- and how much confidence investors can have in its future. Why Q4 Earnings Won't Change the CaseThe fourth quarter numbers themselves may not be all that important. Analyst estimates are soft, with the Street looking for earnings per share to climb a penny year-over-year on revenue down 23.5%.The top line pressure isn't necessarily the sign of a declining business. GE Aviation likely will see short-term pressure from the 737 MAX issues at key customer Boeing (NYSE:BA). And a reduction in the company's stake in Baker Hughes (NYSE:BKR) means that business no longer will be part of GE's consolidated financials.Q4 almost certainly isn't going to be impressive. Of course, that won't surprise anyone who's been paying attention. These two short-term factors will hit the reported numbers. And from a long-term standpoint, even Culp himself has emphasized more than once that the turnaround here will take time.The one number that will be closely watched is free cash flow. General Electric already has raised its outlook twice this year, and needs to hit its target. The gap between earnings and cash flow long has been a problem for GE stock. It was a key part of the (admittedly questionable) short seller report that sent shares tumbling briefly last year. And disappointing cash flow generation contributed to the two dividend cuts seen in recent years.Reaching the current forecast of roughly $2 billion in industrial cash flow (which excludes contributions from GE Capital) would be a step toward restoring GE's credibility. That aside, Q4 numbers, barring a huge surprise, seem highly unlikely to change sentiment toward General Electric.But that doesn't mean the fourth quarter release doesn't matter. It does. Why the Q4 Earnings Release Might Change the CaseThe focus won't be on the backward-looking numbers for a quarter affected by external factors. It's going to be on 2020 guidance.Again, General Electric has a long road ahead. Success is not guaranteed. As Dirk Hackbarth, Professor of Finance at the Boston University Questrom School of Business, told InvestorPlace:"Given its rebound, GE's future seems to be less of a "continued turnaround" and more one of a "strategic disinvestment" of its non-core pieces for the best prices it can get…Moreover, the proceeds from asset sales and spin-offs should be used to gradually de-lever GE to a level that is more in line with its profitability (e.g. return on assets) going forward."The bull case is that this will become a "leaner and meaner" General Electric. And so it would do wonders for GE stock if the company can show some progress this year. Right now, analysts aren't sure it will. Wall Street estimates for 2020 earnings per share currently have a wide range: the low estimate, according to Yahoo! Finance, is 49 cents, while the most bullish projection sits at 77 cents.That range isn't surprising given that analyst price targets too have a large split, as Hackbarth pointed out and Barron's noted last year. At the moment, the most bearish analyst (which I believe is Morgan Stanley's Stephen Tusa, long a GE skeptic) values GE stock at $5. The high target is $14.In that context, the 2020 outlook becomes exceedingly important. Full-year 2019 adjusted EPS should come in around 61 cents. If GE guides toward the low end of Street estimates, GE stock quickly looks overvalued. Investors are paying something close to 20x earnings -- and a higher multiple to free cash flow -- for a business still in decline.If GE supports more bullish expectations, however, this story gets much more interesting in a hurry. Guidance for, say, 70 cents would imply double-digit profit growth in 2020. Yet GE stock would be trading at roughly 17x that guidance. Rival Honeywell (NYSE:HON) trades at 21x 2020 consensus earnings with single-digit growth expected. A Big Stretch for GE StockAgain, next week's release won't prove that GE is destined for a turnaround -- or that it's doomed to further declines. But 2020 guidance, in particular, well may establish the direction of General Electric stock for several months, if not the rest of this year.It could go either way. GE stock could look very different depending on the trajectory established by 2020 results. Hackbarth forecast that the stock "more likely stabilizes in the current price range" this year. If 2020 performance in line with current expectations, that forecast is probably correct.But if GE can surprise to the upside, the story improves. GE has "many attractive parts," as Hackbarth put it. Aviation should benefit from long-term air travel demand. Healthcare has real potential, as I detailed last month. GE Power has substantial room for improvement. Those three units underpin the bull case here.That bull case, however, exists mostly on paper for now. It's up to Culp and GE to turn that theoretical potential into practical returns and cash flow. A confident outlook for 2020 can drive more confidence on that front, and thus more confidence in GE stock.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monthly Dividend Stocks to Buy to Pay the Bills * 7 Earnings Reports to Watch Next Week * 7 5G Stocks to Connect Your Portfolio To The post Why Next Week's Earnings Are Huge for General Electric appeared first on InvestorPlace.
Oil bulls will get no help this week before the week’s end, with Baker Hughes reporting that the number of oil and gas rigs in the US increased this week
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 14 to 673 this week. That followed declines for oil rigs in each of the past three weeks. The total active U.S. rig count, meanwhile, was up 15 from last week to 796, according to Baker Hughes. Oil prices extended their decline, with February West Texas Intermediate crude down 20 cents, or 0.3%, at $58.32 a barrel. It was trading at $58.50 before the rig data.
The three biggest oilfield service providers have all announced asset sales as they adapt to an environment featuring lower demand for their services