|Bid||24.64 x 800|
|Ask||24.65 x 3100|
|Day's Range||24.62 - 25.32|
|52 Week Range||20.09 - 35.55|
|Beta (3Y Monthly)||0.78|
|PE Ratio (TTM)||73.18|
|Earnings Date||Jul 18, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||0.72 (2.96%)|
|1y Target Est||30.33|
Baker Hughes, a GE company (BHGE) and C3.ai today announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique AI software suite to deliver digital transformation technologies that will drive new levels of productivity for the oil and gas industry.
Is Baker Hughes, a GE company (NYSE:BHGE) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before doing days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. […]
There's hope for General Electric (NYSE:GE). Asset sales, a new CEO, and the promise of improved execution have brought investors back into GE stock. General Electric stock has risen 43% so far this year, handily outpacing the stock market.Source: Shutterstock I've been skeptical of the gains since GE stock hit $10, and I was bearish on GE stock long before that. For all the coverage GE receives, many aspects of its business aren't that attractive. GE Power serves declining end markets. Baker Hughes (NYSE:BHGE) is again challenging a 19-year low. Renewable energy hasn't proven to be a winner. GE Capital is still dealing with errors made years ago. * 5 Stocks to Buy for $20 or Less GE Healthcare and GE Aviation are certainly attractive. But with GE's heavily indebted balance sheet, and with its free cash flow expected to be negative this year, those two businesses simply are not attractive enough to make me upbeat on GE stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAll that said, I do understand why some are bullish on GE stock, and, truthfully, I would love to see the bullish thesis play out. GE is an iconic American company. Many investors lost a large amount of money on GE stock in recent years; they deserve a rebound.And there are reasons to be bullish on GE stock now. As I wrote just last month, GE management clearly is being more transparent. New CEO Larry Culp has sparked optimism. And to some extent, bad news is priced into GE stock. If Culp can turn around GE, General Electric stock is going to rise.I still believe that's too big an "if'," however. In that context, a few recent developments need to be monitored closely. GE Gets Transparent-ishCulp clearly has made a point of giving investors and analysts news when possible, whether it's good or bad. He told investors in March that GE would be cash flow-negative this year (excluding GE Capital) - and then reiterated that guidance last month. That's a noted departure from what InvestorPlace columnist Will Healy wisely called a "constant drip" of bad news, including lowered guidance, surprising charges by GE Capital, and execution missteps that weren't quickly revealed.But as Bloomberg noted last month, old habits are tough to break. CFO Jamie Miller admitted that the company had created "confusion" by touting the growth of GE Power's orders on its Q1 conference call in late April. That growth was questioned by JPMorgan Chase (NYSE:JPM) analyst Stephen Tusa, a prescient and longtime bear on General Electric stock.At a conference three weeks after the call, Miller said the company was referencing a report from a third-party. But as Bloomberg pointed out, the report included joint-venture orders and some orders that were already in the company's backlog before the quarter.For any other company, this would be a minor slip-up. For a company that's spent years seemingly twisting all news in its favor, it's a concerning step. GE Aviation StumblesAgain, the company's attractive businesses are Aviation and Healthcare. Those two segments can help keep GE afloat while it repairs its Power business and waits for a rebound in oil and gas and other smaller markets.But the GE9x engine is taking criticism by one of GE's key customers, Boeing (NYSE:BA). That manufacturer's 777x is facing potential delays after a second issue with GE's engine. Testing of the GE9x originally was delayed by three months due to a compressor issue. Further mechanical issues are delaying testing again, and GE is the "long pole in the tent," as Boeing CFO Greg Smith put it.This, too, isn't major news. Neither Boeing nor Airbus (OTCMKTS:EADSY) is going to abandon GE Aviation over these delays. But - as with the transparency issue - GE's history colors everything. A delay involving a key customer in a key business can't be seen as good news. GE's China ProblemThere's another major issue with buying GE stock: the economy needs to cooperate. A recession would interrupt the company's plans and offset Culp's optimism about 2020 and beyond.The trade war with China is a potential catalyst for a global slowdown. But even if that doesn't play out, China seems to be a significant risk for GE. For GE Healthcare, China was "a source of growth" last year, as the company put it in its 10-K. But that growth may have come from unsavory methods: the SEC is investigating GE, along with Philips (NYSE:PHG) and Siemens (OTCMKTS:SIEGY) for bribery.Moreover, Tusa and another analyst both have noted that China could create a new competitor for GE Power in the region. That market is too large, and GE Power too wobbly, to handle that type of blow.On top of all that, tariffs already are increasing GE's costs. And a prolonged trade war could undercut GE's brand. The problem with an industrial company like General Electric is that it can do everything right and still be upended by external factors. Culp's plans may not come to fruition if the news from China doesn't improve. On the Sidelines on General Electric StockTo those who are bullish on GE stock, these concerns probably seem like nit-picking. But that's what happens when a company loses trust.That aside, GE's turnaround path is not easy. It's facing real challenges now. GE stock didn't plunge just because of poor execution, bearish analysts, or uneven communication. Its fundamentals have been headed in the wrong direction for some time. It's going to take some time, and some help, for that to change.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post The Turnaround of General Electric Stock Takes a Few Hits appeared first on InvestorPlace.
The consolidation drive in the oilfield service space is reflected in the recent decision of C&J Energy (CJ) & Keane Group (FRAC) to merge and create a diversified oilfield services firm.
The US drilling rig count fell 6 units, reaching 969 rigs working for the week ended June 14, according to Baker Hughes data. The count is down 90 units from the 1,059 rigs working this time a year ago.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 1 to 788 this week. That followed a decline of 11 rigs last week. The total active U.S. rig count, meanwhile, decreased by 6 to 969, according to Baker Hughes. July West Texas Intermediate crude held onto its gains, up 43 cents, or 0.8%, at $52.71 a barrel.
The federal government's EIA report revealed that crude inventories rose by 2.2 million barrels for the week ending Jun 7 to a nearly 2-year high.
With the advent of advanced drilling technologies, oil producers are now competitive enough to produce higher volumes despite investing lower capital and employing lesser rigs.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 11 to 789 this week. That followed a climb of 3 rigs last week. The total active U.S. rig count, meanwhile, declined by 9 to 975, according to Baker Hughes. July West Texas Intermediate crude held onto its gains, up $1.15, or 2.2%, at $53.74 a barrel.
HOUSTON & LONDON-- -- The Baker Hughes International Rig Count now includes active drilling rigs in Ukraine Baker Hughes, a GE company announced today that the Baker Hughes international rig count for May 2019 was 1,126, up 64 from the 1,062 counted in April 2019, and up 159 from the 967 counted in May 2018. The international offshore rig count for May 2019 was 240, down 11 from the 251 counted in ...
Although total rig count in the United States increases through the week till May 31, the tally may fall in the coming weeks owing to declining capital spending by U.S. explorers and a drop in oil prices.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by 3 to 800 this week. That followed declines over each of the last three weeks. The total active U.S. rig count, meanwhile, edged up by 1 to 984, according to Baker Hughes. July West Texas Intermediate crude fell further, down $1.85, or 3.3%, to $54.74 a barrel. It was at $54.87 shortly before the rig data.
Baker Hughes (BHGE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The tally for oil drilling rigs in the United States not only declines for three successive weeks, but also touches the lowest mark since March 2018.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 5 to 797 this week. That followed declines over each of the last two weeks. The total active U.S. rig count, meanwhile, fell by 4 to 983, according to Baker Hughes. June West Texas Intermediate crude was up 39 cents, or 0.7%, to $58.30 a barrel. It was at $58.26 shortly before the rig data.
General Electric (NYSE:GE) stock, once among the most boring names in the Dow Jones Industrial Average, is now facing constant danger.Source: Shutterstock It met earnings guidance for the first quarter but its asset sale to Danaher (NYSE:DHR) may be in trouble. Fears over its pension liability may be overblown but it has a grim future.CEO Larry Culp is "the man for the job" but GE Power may take three years to recover.InvestorPlace - Stock Market News, Stock Advice & Trading TipsGeneral Electric is a great name, and Culp did a fine job at his previous post running Danaher. But this turnaround may be a bridge too far, and do you really want your money tied up in it? Forget the Name General ElectricThere is romance attached to the name General Electric, and over 130 years of history. In analyzing the company, you need to forget the history, or you'll get lost.Let's call this company Culp Industries. * 6 Stocks to Buy for This Decade's Massive Megatrend Culp Industries is a conglomerate with a market cap of $84 billion. It has $107.5 billion in "borrowings," $36.8 billion of insurance liabilities and annuity benefits (from a failed effort in long-term-care insurance), and $32.9 billion in "non-current compensation and benefits" (mainly pensions). This leaves $35.2 billion for "shareholder equity" on the books, up from $31 billion a year ago.Culp Industries consists of several businesses, some of which are doing well and some of which are doing poorly. The Aviation, Healthcare and lending businesses are doing well. The oil and gas business made a little money. The problems are in the power and renewable energy units, which make turbines and related equipment.Culp can't sell the problem children because their value is negative. Closing them would take out $7 billion in revenue and do nothing to reduce those liabilities. The Danaher deal trims the size of the healthcare unit but brings in about $21 billion. Apply that $20 billion to the balance sheet and it takes just one-fifth of the debt. Questions for GE StockIt's the power unit that's taking the whole company down. Respected JPMorgan Chase analyst Stephen Tusa says Culp "appears to be stopping short of telling the whole story" about the unit, which is losing market share. Cash flow for the unit is now seen as "significantly negative." There are more negative data points. General Electric continues to lay off workers, quietly moving jobs to India. The healthcare unit's activities in Brazil could draw fines under the Foreign Corrupt Practices Act.Culp is doing everything he can, short of changing his company's name to Culp Industries, to make investors forget about the old General Electric. He's turning over the board and has dumped plans to build a glorious new headquarters in Boston. Instead, the company will rent space.I can't imagine anyone doing a better job with the hand he has been dealt than Larry Culp. He has moved decisively to reduce cash flow drain, focused on operations that are making money, and created a new attitude for GE stock.If the oil and gas unit, Baker Hughes (NYSE:BHGE), has a winner in its "electric fracking" equipment, more good news could be on the way. BHGE stock is doing better than rivals Schlumberger (NYSE:SLB) and Halliburton (NYSE:HAL), but its value is still down by more than one-third in the last year. The Bottom LineI wouldn't buy Culp Industries here. There are green shoots, the CEO is doing what he can, but an economic downturn could sink the company's big plans at any time -- even at $10 per share.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear , available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in JPM. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post General Electric Stock Is Full of Peril appeared first on InvestorPlace.
Top Oilfield Services Stocks: Changes in Institutional Ownership(Continued from Prior Part)Top transactionsTogether, the top ten institutional investors in Baker Hughes (BHGE) added 2.4 million shares to their positions in the stock during the first
Oil drilling rig count in the United States not only declines for two weeks in a row, but also touches the lowest mark since March 2018.