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Baker Hughes Inc.

5/22/2013, 11:01 AM ET

Quote & Headlines Market Currents StockTalk

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Monday, May 20, 5:35 PM Deutsche Bank remains bullish on oil service stocks (OIH), seeing favorable underlying trends in Q1 as North American margins improved Q/Q despite a decline in the rig count, suggesting significant operating leverage as activity levels recover. DB's four top stocks to buy, all with price targets well in excess of Wall Street consensus: BHI, HAL, NBR, HERO. Comment! [Energy, Quick Ideas]
Tuesday, May 7, 10:46 AM Baker Hughes (BHI) says its worldwide rig count fell in April to 3,209 from 3,488 in March, and was down from 3,297 a year earlier. Land rigs operated last month totaled 2,826 vs. 3,119 in March and 3,297 last year. The number of offshore rigs was 383, compared with 369 in March and 344 a year ago. Comment! [Energy]
Thursday, April 25, 3:06 PM Oil prices probably need to stabilize and/or move up before oilfield services stocks start rising again, but demand is strong below the surface, Credit Suisse says, believing current valuations fail to reflect the high level of activity or the stable nature of the North American business. The firm adds Halliburton (HAL) to its Focus List and upgrades Baker Hughes (BHI) to Outperform with a $54 price target (from $40). Comment! [Energy, Quick Ideas]
Thursday, April 25, 2:12 PM Baker Hughes Incorporated (BHI) declares $0.15/share quarterly dividend, in line with previous. Forward yield 1.34%. For shareholders of record May 06. Payable May 17. Ex-div date May 02. (PR) Comment! [Dividends]
Wednesday, April 24, 8:28 AM Baker Hughes (BHI) +2.2% premarket after receiving an unsolicited mini-tender offer by TRC Capital Corporation to purchase up to 2.5M shares of BHI common stock at $42/share. BHI recommends shareholders reject the offer, which is 4.6% below the closing price on April 17, the day before the offer. Also, Credit Suisse upgrades shares to Outperform, seeing improved results ahead following years of reorganization. Comment! [Energy, On the Move]
Monday, April 22, 8:57 AM Baker Hughes (BHI) is downgraded to Sell to Argus Research which cites the heightened probability the company will have to take write-offs on its receivables. Counterbalancing are strong earnings from HAL this morning, not to mention, BHI's beat from last week. Comment! [Energy]
Friday, April 19, 7:49 AM More on Baker Hughes' (BHI) Q1 results: Profit fell 30% Y/Y as revenue from its key North American segment fell 9% Y/Y to $2.6B. Middle East/Asia Pacific revenue rose 20%, marking the first time the region ended the quarter as BHI's largest international segment. Following five straight quarters of declines in the U.S. rig count, BHI now sees a "modest increase" for the rest of the year. Shares +2.4% premarket. Comment! [Energy, Earnings, On the Move]
Friday, April 19, 6:02 AM Baker Hughes (BHI): Q1 EPS of $0.65 beats by $0.02. Revenue of $5.23B (-2% Y/Y) beats by $0.05B. (PR) Comment! [Earnings, Breaking News]
Friday, April 19, 12:05 AM Notable earnings before Friday’s open: BHI, COL, FHN, FNFG, GE, GPC, HON, IPG, KMB, KSU, LH, MAN, MCD, NPBC, SAP, SLB, STI, STT, TCB, TNP, UA Comment! [Earnings]
Thursday, April 18, 5:30 PM Notable earnings before Friday’s open: BHI, COL, FHN, FNFG, GE, GPC, HON, IPG, KMB, KSU, LH, MAN, MCD, NPBC, SAP, SLB, STI, STT, TCB, TNP, UA Comment! [Earnings]
Thursday, April 18, 5:14 PM Despite the weak YTD start in oil service companies Baker Hughes (BHI), Halliburton (HAL), Schlumberger (SLB) and Weatherford (WFT), Barclays analyst James West makes a strong case for all four in the months ahead. The group trades at 13.2x forward earnings, ~20% less than the 10-year average, and shares also are cheap relative to commodity prices, West says. Comment! [Energy, Quick Ideas]
Wednesday, April 17, 6:01 PM A widely expected Q1 rebound for oil services companies (OIH) is not materializing, analysts say, as the U.S. land rig count fell ~3% Q/Q in Q1 and was 13% lower Y/Y. Now the view is that recovery will be slower rather than faster. Fresh off a wave of downward analyst revisions, Schlumberger (SLB) and Baker Hughes (BHI) report on Friday, while Halliburton (HAL) posts earnings next week. Comment! [Energy]
Wednesday, March 27, 2:48 PM For investors interested in oilfield services companies, Simmons analysts provide their share-price entry points for the sector's top names - SLB, HAL, BHI, WFT, CAM, FTI, NOV - and finds all look fairly valued with 2013 likely to be a murky year. But "most of these names are good solid buys on weakness," the firm says, and that’s where the entry points help. Comment! [Energy, Quick Ideas]
Wednesday, March 20, 3:32 PM Drillers are little more than range-bound trading vehicles for now, Dan Dicker says in urging investors to avoid the group. Despite excitement over new U.S. finds, the weak price of natural gas will continue to stifle drilling growth until some price recovery past $3.50/mcf arrives. SLB and others have done a good job squeezing growth from international markets, but a robust U.S. market is key for their stocks to take off. 4 Comments [Energy, Quick Ideas]
Tuesday, March 19, 3:19 PM Despite Schlumberger's near-term concerns, Credit Suisse is convinced the U.S. rig count is going higher and thinks investors should be overweight in U.S.-focused companies leveraged to the rig count or completions. CS likes manufacturers HAL, SPN and FET that supply equipment for drilling and producing the tight reservoirs, plus BHI, WFT, NOV and FTI. 1 Comment [Energy, Quick Ideas]
Tuesday, March 19, 10:29 AM Oilfield services companies suffer another down day after Schlumberger (SLB -1.3%) sounded an alarm for the sector, warning that customers have reactivated fewer rigs than expected and pricing is still an issue. It was a “clarion call of realism," Simmons says, virtually ensuring negative Q1 guidance from SLB and making positive revisions from other oil service firms "a steeper climb." HAL -1.9%, BHI -1.3%. 1 Comment [Energy, On the Move]

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