|Bid||0.00 x 1100|
|Ask||22.79 x 1800|
|Day's Range||22.06 - 22.79|
|52 Week Range||1.16 - 23.20|
|Beta (3Y Monthly)||0.94|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 29, 2020 - Feb 3, 2020|
|Forward Dividend & Yield||0.72 (3.27%)|
|1y Target Est||28.62|
Deutsche Bank’s Chris Snyder sees a rebound in U.S. shale exploration in the second half of 2020, which should benefit the big oil-services companies
The energy sector consists of stocks related to the production and supply of energy around the world. The sector includes upstream firms that are involved in the exploration and production of oil or gas reserves, such as EOG Resources Inc. (EOG). Also in the sector are downstream companies that refine and process oil and gas products for delivery to consumers, including HollyFrontier Corp. (HFC).
The JV will help customers adopt scalable AI solutions for the energy industry that promote safety, reliability, and sustainability.
Oil futures rose on Friday to notch a gain of 0.8% for the week, with optimism surrounding a potential phase one of a U.S.-China trade deal offering support for prices, even as some signs point to a more ample supply outlook. Weekly data from Baker Hughes, meanwhile, revealed a fourth straight decline in the number of active U.S. oil drilling rigs, implying a slowdown in production activity. December West Texas Intermediate oil rose 95 cents, or 1.7%, to settle at $57.72 a barrel on the New York Mercantile Exchange.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 10 to 674 this week. That followed declines in each of the last three weeks. The total active U.S. rig count, meanwhile, also fell by 11 to 806, according to Baker Hughes. Oil prices continued their climb, with December West Texas Intermediate crude was up 97 cents, or 1.7%, at $57.74 a barrel-little changed from before the rig data.
U.S. oil services company Baker Hughes on Friday said its facility in western Venezuela had returned to regular operations, after a local mayor announced the temporary closure of the unit due to alleged tax delinquency. "Baker Hughes is pleased to see that the matter has been moved to the normal judicial process and its facility has returned to regular operations," the company said in a statement.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 7 to 684 this week. That followed declines in each of the last two weeks. The total active U.S. rig count, meanwhile, also fell by 5 to 817, according to Baker Hughes. December West Texas Intermediate crude was up 3 cents, or 0.05%, at $57.18 a barrel, little changed from before the rig data.
MARACAIBO, Venezuela/CARACAS, Nov 8 (Reuters) - Baker Hughes' western Venezuela office has returned to "regular operations," the company said on Friday, after a local government earlier ordered it closed due to the company's alleged failure to pay municipal taxes. Before sunrise on Friday morning, Orlando Urdaneta, mayor of the La Canada de Urdaneta municipality in oil-rich Zulia state, tweeted a photo of himself outside the office of the U.S. oil services firm announcing the closure, and issued a statement calling on the company to negotiate. "Baker Hughes is pleased to see that the matter has been moved to the normal judicial process and its facility has returned to regular operations," the company said.
Baker Hughes announced today that the Baker Hughes international rig count for October 2019 was 1,130, down 1 from the 1,131 counted in September 2019, and up 113 from the 1,017 counted in October 2018.
We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are...
Baker Hughes announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on November 22, 2019 to holders of record on November 11, 2019.
General Electric shares rallied 11.5% on Wednesday after the company reported third-quarter numbers that were better than Wall Street expected. Now analysts are weighing in on the results.
GE earned 15 cents a share, easily beating Wall Street estimates. But the company lost 15 cents a share when adding in all the one time expenses. Investors knew some charges were coming, but the report illustrate how hard it has been to turn around the iconic American manufacture.
Contributions from oilfield service businesses in the Middle East, Asia Pacific and Europe favor Baker Hughes' (BKR) year-over-year earnings growth in Q3.
Baker Hughes Co reported a rise in quarterly adjusted profit on Wednesday, helped by increased demand for its oilfield services and higher margins for its turbomachinery such as gas turbines and compressors. The company's results contrasted with steep falls in revenue reported by some of its rivals in the oilfield services industry as it benefited from stronger equipment sales to customers building liquefied natural gas plants and a rise in business outside the United States. Operating income in the turbomachinery and process solutions unit, the company's second largest business, rose 22% on higher margin from equipment sales and cost savings.
Baker Hughes (BKR) delivered earnings and revenue surprises of -12.50% and -3.78%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Overall, we are very pleased with our execution as a team, and we believe Baker Hughes is firmly on the right path financially, operationally, and strategically,” said Lorenzo Simonelli, Baker Hughes Chairman and Chief Executive Officer.
Earlier this month, Credit Suisse analyst John Walsh said that "it takes a village" to assess General Electric (NYSE:GE) stock.Source: Jonathan Weiss / Shutterstock.com I don't agree with that sentiment. Heading into the company's third-quarter earnings, due Oct. 30, I remain convinced that prior results show that the company's aerospace unit remains strong, while its debt load is manageable. Furthermore, CEO Larry Culp -- who joined the company well after its difficulties began -- is quite reassuring.Consequently, I believe that Culp would not have taken the job unless he thought he could revive GE stock. Moreover, I believe that Culp is not the type of executive who would be untruthful or hide the gruesome skeletons that the GE stock bears keep warning about. As a result, when GE says that it set to significantly reduce industrial debt by 2020, I tend to believe it.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI also remain convinced that GE's power unit will benefit from increased use of natural gas and electricity. Wind energy will tremendously boost the renewables unit over the long run. GE Bulls Join the RingStill, the fact that many more GE stock bulls are emerging from the woodwork is quite encouraging. One near-bull is Credit Suisse's Walsh, who has a "hold" rating and a $10 price target on General Electric stock. After speaking with his firm's life insurance analyst, Walsh reports that Credit Suisse "forecasts minimal funding requirements versus investor expectations." In other words, the insurance analyst's conclusions agree with my instincts, which indicated that the wild accusations of Harry Markopolos were ridiculous. * 10 Stocks to Buy Regardless of Q3 Earnings In the middle of last month, Walsh believed that the GE stock price could jump to $13 in the wake of its third-quarter results if its earnings showed that free cash flow was rising and its balance sheet was improving.Also very upbeat on GE stock is T. Rowe Price's David Giroux. Noting that Giroux has "crushed" competing stock pickers over the last decade, Barron's quotes Giroux as saying he's "confident" that Culp will be able to right GE's ship. Praising the company's aerospace, health and renewables businesses, he thinks that the GE stock price can double or triple in three to five years. And he doesn't even sound upbeat on power's outlook. Other Positive CatalystsMultiple other recent developments are making me upbeat on GE stock heading into its Q3 earnings.The company has apparently fixed the problems with its GE9x engine and delivered it to Boeing (NYSE:BA). Boeing expects its troubled Boeing 737 Max plane to be ready to resume flying by the end of the year. The plane's return to flight should boost GE's results.GE continues to make lucrative wind-energy deals, providing turbines for two large East Coast projects, selling electricity from its Swedish wind farm to Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and becoming the preferred turbine manufacturer for the world's largest offshore wind farm.Also very encouraging are the additional steps that Culp has taken to improve the conglomerate's balance sheet. Specifically, he froze the company's pensions and continued the process of reducing GE's stake in Baker Hughes (NYSE:BKR).Finally, multiple pension funds own GE stock as of the end of Q3. Ohio's State Teachers Retirement System owned 5.2 million shares of General Electric stock as of the end of September, although it sold 1.3 million shares during the quarter. Virginia's pension fund bought 571,000 shares of GE stock in Q3 and Alaska bought over 456,000 shares, bringing its total to 1.6 million shares. The Bottom Line on General Electric StockCulp remains trustworthy and GE is making progress on multiple fronts. Moreover, more pension funds and experts are jumping on the GE stock bandwagon. As a result, the company's Q3 results should be strong and long-term investors should continue to buy General Electric stock.As of this writing, Larry Ramer owned shares of GE stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy Regardless of Q3 Earnings * 8 Consumer Stocks to Buy before Thanksgiving * 7 Autonomous Vehicle Stocks to Drive You to the Future The post More Big Names Are Jumping on the General Electric Stock Bandwagon appeared first on InvestorPlace.
GE plans to report its Q3 earnings tomorrow before the market opens. The market will be watching for signs of transformation under CEO Larry Culp.
Lower commodity prices and demand for energy products are expected to have affected oil and gas stocks' earnings in the third quarter of 2019.