|Bid||22.19 x 3000|
|Ask||22.19 x 1100|
|Day's Range||22.02 - 22.54|
|52 Week Range||1.17 - 28.65|
|Beta (3Y Monthly)||0.94|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 29, 2020 - Feb 3, 2020|
|Forward Dividend & Yield||0.72 (3.25%)|
|1y Target Est||28.62|
Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018 levels. Even so, analysts said concerns surrounding a slowdown in oil demand remain. Meanwhile, Baker Hughes reported a seventh straight weekly decline in the number of active U.S. rigs drilling for oil. January West Texas Intermediate oil rose 77 cents, or 1.3%, to settle at $59.20 a barrel on the New York Mercantile Exchange. For the week, the U.S. benchmark rose 7.3%, the biggest such rise since the week ended June 21, according to FactSet data.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by five to 663 this week. That followed declines in each of the last six weeks. The total active U.S. rig count, meanwhile, also fell by three to 799, according to Baker Hughes. Oil prices held onto their earlier gains, with January West Texas Intermediate crude up 52 cents, or 0.9%, at $58.95 a barrel.
Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for November 2019 was 1,096, down 34 from the 1,130 counted in October 2019, and up 105 from the 991 counted in November 2018. The international offshore rig count for November 2019 was 247, up 5 from the 242 counted in October 2019, and up 41 from the 206 counted in November 2018.
With the 2010s officially drawing to a close, Yahoo Finance took a look at some of the biggest S&P 500 winners and losers of the past decade based on price returns.
Investing in stocks inevitably means buying into some companies that perform poorly. But the long term shareholders of...
Ken Griffin built his impressive reputation as an investor early in life, founding Citadel Advisors when he was just 22, with $4.6 million in seed money. By 2003, when became the youngest self-made millionaire on the Forbes 400 list, his hedge fund controlled well over $1 billion in investment capital. Today, Griffin’s Chicago-based fund holds $212 billion in equity assets under management.In the third-quarter, Citadel made 9-digit purchases in three particularly interesting stocks. All three are rated Strong Buys in the TipRanks database, and all three show unique combinations of strengths and weaknesses. We’ve pulled up the data on each, to find out what drew them to Griffin’s attention.Baker Hughes Company (BKR)America’s oil and gas industry has generated a slew of headlines and rightly so, for the increased oil and gas drilling – across the continent – pushed the US into the top spot among global oil producers six years ago. Drilling, however, is only one of many oil-related industries that has benefited. A whole service sector has evolved to support oil and gas operations, and Baker Hughes in a major player in it.BKR provides the products and services that drilling companies need to complete their operations, from evaluating geological formations to completing the wells. The company deals in tools, machinery, and IoT technology for one of the country’s most important economic sectors. The scale of Baker Hughes’ operations is clear from the company’s sales numbers – in fiscal 2018, BKR brought in over $22.8 billion in revenues.Between July 2017 and September 2019, BKR was affiliated with General Electric in a merger. Earlier this year, however, GE had divested itself of the controlling interest in BKR, and Baker Hughes was an independent company again before the end of September.And now we get to the interesting point: In Q3, ending on September 30, Citadel bought just over 13 million shares of BKR stock. It’s not a controlling interest, but the holding is worth $293.9 million at today’s share prices.Wall Street’s analysts have also been showing the stock some love. Deutsche Bank analyst Chris Snyder initiated coverage on BKR, writing, “Given our expectation of soft, range-bound commodity prices through at least 1H'20, we are drawn to BKR’s business lines which feature long-cycle businesses (LNG), more stable and diversified end-markets, strong international exposure and a service portfolio focused on technology and levered to production services… We forecast BKR will grow EPS at a 40% CAGR over the next two years, an impressive feat given the challenging backdrop.”Snyder set a "buy" rating on BKR stock along with a $32 price target, suggesting room for 44% upside from the current share price. (To watch Snyder's track record, click here)Also bullish is Cowen analyst Marc Bianchi, who took care to point out the recent C3.ai partnership. He wrote, “[We are] impressed with the C3 business and think BKR could be the first OFS company to take a meaningful bite out of the ~$39B TAM for Oil and Gas IoT… We continue to rate the stock among our top picks in OFS.” Bianchi gives BKR a $30 price target, implying an upside of 35%. (To watch Bianchi's track record, click here)BKR get a unanimous vote from Wall Street’s financial experts, with 9 Buy reviews on record. Shares are selling for $22.61, and the average price target of $29.38 indicates a 32% upside potential. It also doesn't hurt that the company provide a healthy 3.18% dividend yield -- more than 50% higher than the S&P average. (See Baker Hughes stock analysis on TipRanks)Exelon Corporation (EXC)Exelon is a major producer in the US electricity and natural gas sectors, with six utilities delivering power to 10 million customers across 5 states and the District of Columbia. The company puts more than 32,000 megawatts on the grid, and its combination of nuclear, gas, wind, and solar generation capability makes it one of the cleanest power providers in the US.All of that sounds like a commercial, but well-planned marketing attracts both customer and investors, and Exelon leverages its marketing to good effect. Unfortunately, the company also practices an older form of political lobbying, and has been implicated in the state of Illinois in connection with “communications” directed at a State Senator from Chicago. A second probe, at the Federal level, has been opened by the SEC, and may expand the investigation of the company’s lobbying to other states. Exelon CEO Chris Cane declined to answer questions on the matter, saying only that the company is cooperating with investigators.To the company’s credit, earnings are steady and positive, showing again the value of providing an essential commodity. In the Q3 report, EXC showed 92 cents EPS, beating the forecast by 4.5% and exceeding the 80 to 90 cent guidance range. The positive earnings came despite a drop in revenues, which at $8.9 billion were down the $9.04 year-ago figure.During the third-quarter, Griffin’s Citadel saw fit to boost its holding in the stock by 61%. The fund bought 1,599,064 shares of EXC, worth $70 million at current prices. The purchase brings Citadel’s stake in the company to 4,259,392 shares, valued over $187 million. This is $18 million lower than the disclosed purchase price, but Citadel stands in a good position to recoup that loss. Exelon pays a 3.3% dividend, and the stock is expected to show strong gains in the next 12 months.Despite describing the stock as “remaining in the penalty box” due to the investigations, 4-star Well Fargo analyst Neil Kalton remains bullish on the stock, reiterating a "buy" rating and $54 price target. He writes, “Our Outperform rating reflects our belief that shares do not adequately reflect the value of the nuclear fleet given potential policy support.” His price target implies a 22% upside. (To watch Kalton's track record, click here)Steve Fleishman, from Wolfe Research, gives some additional detail in his note on EXC: “The utility offers attractive 6-8% EPS growth that can be funded internally with help from strong cash flows at the merchant business. EXC’s integrated generation-retail model has provided stability and strong cash flows for debt reduction and utility growth funding… we see value from either expanded credits or portfolio rationalization. EXC is growing the dividend 5%/yr.” Fleishman’s $55 target suggests potential growth of 25%. (To watch Fleishman's track record, click here)These opinions form the bullish end of the continuum on EXC, but the stock does hold a Strong Buy consensus rating. While the analysts are not unanimous, they give Exelon 7 Buys against just 2 Holds. The average price target of $51.56 indicates that there is room for 17% upside to the current trading price of $44.01. (See Exelon stock analysis on TipRanks)Willis Towers Watson (WLTW)The third stock we’re looking at here is a big name in the insurance industry. Willis Towers Watson is the world’s third largest insurance broker, and offers services in multinational risk management. The company was previously known as Willis Group; in 2016, it conducted a merger of equals with Virginia-based Towers Watson to form the current corporate iteration. After the merger was compete, Willis Group shareholders owned 50.1% of the combined entity.Insurance is a lucrative industry and WLTW’s earnings reflect that. The company beat the forecasts for both revenues and EPS in Q3. Quarterly revenue came in at $1.99 billion, $130 million higher than the year-ago quarter, and earnings were reported at $1.31, just above the $1.30 estimate. While the beats were only modestly higher than the estimates, they were solid. In addition to the steady earnings, the company also paid out its 65-cent quarterly dividend. While not spectacular, the dividend has been increased steadily over the past 3 years, and is easily sustainable at current EPS levels.So, Willis Towers Watson has gigantism on its side, giving it an inertia that makes current growth rates likely to continue. This is the background to Citadel’s 1,437,846 share purchase of WLTW in the third quarter. The purchase brought the firm’s total holding to more than 1.439 million shares, worth more than $280 million. This is almost $3 million more than Citadel’s declared purchase price, so this move by Griffin is already profitable.Jay Gelb, 5-star analyst from Barclays, sees WLTW as a good buy. He puts a $235 price target on the stock, writing as his justification, “We view WLTW as a strategically favorable combination that shifts Willis from being a pure-play global insurance broker to adding core capabilities in consulting, employee benefits and private health insurance exchange.” His target suggests a 20% upside to the stock.Assessing WLTW for Jefferies is 4-star analyst David Styblo, who writes as his bottom line, “WLTW is delivering on its commitment to produce more consistent results. The +6% marks the fifth consecutive quarter of 5-6%. Operating margins also expanded 120bps and are up 150bps YTD, recognizing ASC 606 has driven about half the expansion. The solid performance is broad-based, again another marker of consistency. Management continues to expect at least 15% FCF over the next 3 years…” Styblo gives Willis a $234 price target, in line with Gelb’s stock price forecast.Like Baker Hughes above, WLTW has a unanimous consensus rating – 6 analysts have given this stock an up-check in recent weeks. Shares are not cheap, at $195.43, but the $223 average price target suggests a 14% upside for investors. (See WLTW stock analysis on TipRanks)
The Zacks Analyst Blog Highlights: Baker Hughes, Halliburton, Schlumberger, Diamond Offshore and Transocean
Baker Hughes Co. on Friday reported that the number of active U.S. rigs drilling for oil fell by 3 to 671 this week. That followed declines in each of the last four weeks. The total active U.S. rig count, meanwhile, also fell by 3 to 803, according to Baker Hughes. Oil prices pared some of their losses, with January West Texas Intermediate crude down 51 cents, or 0.9%, at $58.07 a barrel, up from $57.84 before the rig data.
On the heels of its record-breaking rally, the market dipped into the red. The S&P 500, the Dow Jones and Nasdaq all slipped yesterday following the release of a report stating that a trade deal might get pushed into 2020. This comes after China denounced a resolution from the U.S. Senate supporting human rights in Hong Kong.“What we’re seeing in the market today is another reminder that tariffs reign supreme. You can have great results from two of the biggest retailers — Target and Lowe’s — but what seems to matter most of all is if headlines go south on trade,” JJ Kinahan, TD Ameritrade chief market strategist, commented.Against this backdrop, the Federal Reserve published the minutes from its October meeting, demonstrating that interest rates will likely stay put unless economic conditions deteriorate substantially.Given the current economic landscape, investors are searching for stocks poised to soar through 2020 and beyond. To get this done, we turned to the pros at Deutsche Bank, taking a closer look at three of the Wall Street giant's Buy-rated picks boasting huge upside potential. Deutsche houses some of the best-performing analysts on Wall Street, with it scoring the 8th spot on TipRanks’ Top Performing Research Firms ranking. Let’s dig in.TechnipFMC (FTI)TechnipFMC provides its customers with subsea, onshore, offshore and surface technologies used for oil and gas production. While shares have struggled in the last few months, Deutsche Bank’s Christopher Snyder just gave the company a “top pick” designation.Part of FTI’s strength lies with its ability to cut well costs for upstream providers through its unique approach to developing and installing subsea field architecture. This includes standardizing equipment, simplifying installations and employing new technologies. As a result, it saw a 40% drop in offshore breakevens compared to last cycle.“By making more projects economically viable for their customer base, FTI has successfully created secular demand tailwinds for themselves, a win-win and the ultimate goal of any service provider,” Snyder wrote in a note to clients. He added that even though margins have been weighed down by excess supply across subsea manufacturing and installation, he predicts that 2019 will represent the “bottom in subsea margins for FTI” as subsea service and integrated projects make up a larger portion of revenue in the next few years.Adding to the good news, since FTI introduced its integrated subsea model (iEPCI) in 2016 that brought all operations under one roof, iEPCI accounts for more than 50% of FTI’s inbound subsea orders. “We think the rapid adoption of digital solutions throughout the oil and gas value chain will drive increased integration across the OFS universe and no company is better positioned to take advantage of this shift than FTI,” Synder noted.All of this prompted the analyst to initiate coverage with a Buy. Along with the rating, he attached a $33 price target, indicating 68% upside potential. (To watch Snyder’s track record, click here)Similarly, the rest of the Street likes what it’s seeing. 5 Buy ratings and 1 Hold received in the last three months add up to a ‘Strong Buy’ analyst consensus. On top of this, its $31 average price target puts the upside potential at 60%. (See TechnipFMC stock analysis on TipRanks)Baker Hughes (BKR)Baker Hughes is an oil and gas technology company that offers solutions for energy and industrial customers across the world, with the majority stake of its shares having been previously held by General Electric. Based on its business segments that include long-cycle businesses (LNG), more stable and diversified end-markets, strong international exposure and a service portfolio focused on technology, Deutsche Bank sees plenty of gains in store.While acknowledging the “choppy upstream backdrop,” Christopher Snyder, who also covers BKR, argues that the current LNG FID wave and its associated after-market service agreements will lend itself to strong margin expansion.“We think the margin improvement story at BKR has been under-appreciated by the market with the company setting itself up for years up margin expansion, even under our relatively conservative near-term upstream spending outlook,” he explained.Additionally, Snyder cites its digital solutions business as providing diversification with end-markets in the broader industrial and chemical industries. This is important as it gives BKR some stability in an otherwise volatile oil and gas market. The analyst also points out that the resurgence in both the international oilfield service and equipment markets should bode well for BKR.As a result, Snyder started BKR as a Buy and set a $32 price target. This target conveys his confidence in BKR’s ability to climb 43% higher in the next twelve months. (To watch Snyder’s track record, click here)Like Snyder, other Wall Street analysts take a bullish approach when it comes to BKR. As 9 Buys were assigned in the last three months compared to no Holds or Sells, the consensus is unanimous: BKR is a Strong Buy. At an average price target of $29, the potential twelve-month gain lands at 31%. (See Baker Hughes stock analysis on TipRanks)Arlo Technologies (ARLO)No one is doubting the fact that home automation company Arlo Technologies has had a rough going. We’re talking about a 72% fall year-to-date. However, Deutsche Bank analyst Jeffrey Rand believes that the drop presents investors with a unique buying opportunity.The analyst recognizes that ARLO continues to face challenges both operationally and competitively but argues that this downside risk has already been factored into the share price. In his view, the company stands out based on its ahead-of-the-curve technology that is “supported by its market share leading position in the U.S. and the growing mix of subscription revenue should support margin expansion and a more stable revenue stream”.Part of the optimism is due to the potential sale of its European commercial operations to Verisure for $50 million. Not to mention the deal includes a guarantee that Verisure will reach a minimum of $500 million in cumulative hardware purchases over the next five years and will purchase Arlo Smart subscriptions from Arlo for its users. “With about 3 million customers, Verisure meaningfully increases Arlo's future customer base and we believe that this model could open up future possibilities for Arlo to work closer with home security providers,” Rand noted.Bearing this in mind, the analyst resumed coverage of ARLO with a bullish call and attached a $4 price target. This implies shares could surge 45% in the coming year. (To watch Rand’s track record, click here)Looking at the consensus breakdown, it’s a mixed bag when it comes to ARLO. 1 Buy, 1 Hold and 1 Sell amount to a ‘Hold’ analyst consensus. However, its $4 average price target brings the upside potential to 45%. (See Arlo Technologies stock analysis on TipRanks)
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.