|Bid||0.00 x 1000|
|Ask||0.00 x 4000|
|Day's Range||23.25 - 23.80|
|52 Week Range||22.55 - 37.76|
|Beta (3Y Monthly)||0.78|
|PE Ratio (TTM)||80.03|
|Earnings Date||Jan 22, 2019 - Jan 28, 2019|
|Forward Dividend & Yield||0.72 (2.69%)|
|1y Target Est||36.79|
In this series, we’re discussing analysts’ recommendations for oilfield services stocks. So far, we’ve discussed analysts’ recommendations for Halliburton (HAL), TechnipFMC (FTI), and Baker Hughes (BHGE). Among the 36 analysts surveyed by Reuters covering Schlumberger (SLB), seven rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”
Baker Hughes a GE company (NYSE:BHGE), a large-cap worth US$26b, comes to mind for investors seeking a strong and reliable stock investment. Most investors favour these big stocks due to Read More...
On November 13, Baker Hughes (BHGE) and General Electric (GE) announced agreements aimed at accelerating the planned separation of the two companies. General Electric announced a secondary offering of 92 million Baker Hughes common shares at a price of $23 per share. Baker Hughes will also repurchase 65 million shares from General Electric. The agreements will bring down General Electric’s stake in Baker Hughes from the current 62.5% to over 50%.
Among the analysts surveyed by Reuters covering TechnipFMC (FTI), 72% rated it as a “buy.” TechnipFMC has the most “buy” ratings after Halliburton (HAL), which we discussed in the previous part of this series. Among the analysts, 16% of the analysts rated TechnipFMC as a “hold,” while 12% rated it as a “sell.” The mean target price for TechnipFMC is $35.7, which implies an upside potential of 52% from its current price of $23.5.
Among the oilfield services stocks that we’re discussing in this series, Halliburton (HAL) got the most “buy” recommendations from the analysts surveyed by Reuters. Among the 36 analysts covering Halliburton, 13 rated it as a “strong buy,” 17 rated it as a “buy,” five rated it as a “hold,” and one rated it as a “sell.” The mean target price for Halliburton is $49.2, which implies a massive upside potential of 52% from its current price of $32.3. The above graph shows how analysts’ rating and mean target price for Halliburton changed over 12 months.
Oilfield services stocks have mainly been weak in 2018. The stocks fell significantly in the past month. The VanEck Vectors Oil Services ETF (OIH) has hit a 15-year low. Top oilfield services stocks Schlumberger (SLB), Haliburton (HAL), and TechnipFMC (FTI) hit new 52-week lows on November 13. The three stocks have fallen 32%, 35%, and 26%, respectively, YTD (year-to-date).
General Electric (GE) proceeds with its intended separation from the oil and gas business. It has offered 92 million Baker Hughes shares to public and agreed to sell 65 million shares to Baker Hughes.
Founded in 1892, General Electric (NYSE:GE) has been a symbol of America’s strength. Well, for the year so far, the GE stock price is off a gruesome 49%. The shares were also dropped from the iconic Dow Jones Industrial Index (the company had been on it since 1907).
RADNOR, PA / ACCESSWIRE / November 15, 2018 / Kaskela Law LLC is investigating Baker Hughes, a GE company (''Baker Hughes'' or the ''Company'') (NYSE: BHGE) on behalf of the Company's stockholders. The ...
The 92 million shares of Baker Hughes for sale by GE was priced at $23.00, below the stock's $23.81 closing price on Tuesday, and came a day earlier than planned. GE, which is struggling to rebuild its industrial businesses, said on Tuesday it would sell a portion of its stake in Baker Hughes to repay debt. GE will be able to raise nearly $4 billion from the sale if underwriters exercise options to buy an additional 9.2 million shares, with Baker Hughes repurchasing another 65 million shares in a private transaction at a maximum aggregate of $1.5 billion.
Oilfield services company Baker Hughes , majority owned by General Electric Co, said a previously announced share offering was priced at a discount of 3.4 percent, sending shares of both companies lower on Wednesday. The 92 million shares of Baker Hughes for sale by GE was priced at $23.00, below the stock's $23.81 closing price on Tuesday, and came a day earlier than planned. GE, which is struggling to rebuild its industrial businesses, said on Tuesday it would sell a portion of its stake in Baker Hughes to repay debt.
GE is reducing its stake in Baker Hughes earlier than a previous agreement specified, and the move is expected to bring in $4 billion in cash.
General Electric (GE) and Baker Hughes, a GE company, sign a series of agreements to amend their existing commercial and technological relationships. General Electric also seals a deal with PPL Corporation.
Shares of Baker Hughes, a GE Co. slumped 1.9% in premarket trade Wednesday, after the oilfield products company revealed the pricing of the secondary offering of common stock. The company said public offering of 92 million Class A shares owned by General Electric Co. were priced at $23 a share, which was 3.4% below Tuesday's closing price of $23.80, representing a value of $2.12 billion. If the underwriters exercise all the options granted to underwriters to buy an additional 9.2 million shares, the total value of the offering could reach $2.33 billion. The offering is expected to close on Nov. 16. GE's stock rose 0.6% ahead of the open. Over the past three months, Baker Hughes' stock has tumbled 30.3% through Tuesday and GE shares have dropped 30.8%, while the S&P 500 has slipped 3.5%.
GE (GE) announced today the pricing of a secondary offering (the “offering”) of 92,000,000 shares of Class A common stock, par value $0.0001 per share (the “Class A common stock”) of Baker Hughes, a GE company (“BHGE”), at a price to the public of $23.00 per share. The underwriters have a 30-day option to purchase up to an additional 9,200,000 shares of Class A common stock from GE or one or more of its affiliates (such option, the “option” and, such shares, the “option shares”). The offering is expected to close on November 16, 2018, subject to customary closing conditions.
The company will spend between $200 million and $300 million on one-time charges related to the separation of the companies.
Baker Hughes, a GE company (BHGE) (“BHGE” or the “Company”) announced today the pricing of a secondary offering (the “offering”) of 92,000,000 shares of BHGE Class A common stock, par value $0.0001 per share (the “Class A common stock”), by General Electric Company (“GE” or the “selling stockholder”) at a price to the public of $23.00 per share. The underwriters have a 30-day option to purchase up to an additional 9,200,000 shares of Class A common stock from the selling stockholder (such option, the “Option” and, such shares, the “Option Shares”). The offering is expected to close on November 16, 2018, subject to customary closing conditions.
Shares of General Electric Co. shoot higher Tuesday, as the struggling industrial giant’s planned sale of its stake in Baker Hughes gives investors reason to cheer after a bruising period.
General Electric GE and Baker Hughes BHGE mutually agreed to a release from the lockup that had prevented GE from disposing of shares of BHGE until July 2019. As part of the agreement, BHGE and GE will cooperate on a proposed sale by GE of part of its stake into the market (perhaps through an initial public offering) and to a concurrent repurchase of another part of GE's stake by BHGE.
Getting rid of the ridiculous name won’t be the only prize for owners of Baker Hughes, a GE Co. The Baker Hughes ownership saga goes back to the autumn of 2014 at the start of oil’s bear market. When those plans finally unraveled in the spring of 2016, Baker Hughes was left at the altar with a $3.5 billion cash consolation prize.
Former GE Power Systems CEO Bob Nardelli and Forbes.com political contributor Rick Ungar on the outlook for General Electric.