United States rig count rises 16 this week to 901; Texas up 8

An oil rig drilling a well at sunrise near Midland Texas

An oil rig drilling a well at sunrise near Midland Texas

Baker Hughes (NYSE:BHI) traded down 0.52% during mid-day trading on Friday, reaching $57.13. With 2.75 million shares average volume, it will take short sellers 4 days to cover their BHI's short positions.

Baker Hughes (NYSE:BHI) last released its quarterly earnings data on Tuesday, April 25th. During the same quarter in the previous year, the firm posted ($1.58) EPS. Over the last 12 months, BHI's stock price has risen $11.18, or +24.33%. Baker Hughes has a 52-week low of $41.74 and a 52-week high of $68.59. The correct version of this article can be viewed at https://transcriptdaily.com/2017/05/19/q2-2017-earnings-estimate-for-baker-hughes-incorporated-bhi-issued-by-capital-one-financial-corp-updated-updated.html. On average, equities research analysts predict that Baker Hughes Incorporated will post $0.02 EPS for the current year. The oilfield services provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.17.

The stock of Baker Hughes Incorporated (NYSE:BHI) registered an increase of 13.95% in short interest. The Wall Street forecast had projected $-0.11 per share, and the company reported EPS of $-0.30 - also a -162.24% negative surprise. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.27 billion.

In the quarter ending September 2016, Baker Hughes Incorporated delivered an even larger earnings beat. Finally, Zacks Investment Research upgraded shares of Baker Hughes from a "sell" rating to a "hold" rating in a research report on Monday, May 8th. Baker Hughes Incorporated had 66 analyst reports since July 22, 2015 according to SRatingsIntel.

The company's consensus rating is now Hold, with 8 analysts rating it a Strong Buy, and 11 analysts rating it with a Hold. Rathbone Brothers plc now owns 9,418 shares of the oilfield services provider's stock worth $475,000 after buying an additional 200 shares during the period. This represents a $0.68 annualized dividend and a yield of 1.19%. Goodman Financial Corp boosted its stake in shares of Baker Hughes by 1.1% in the first quarter. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of USA and global copyright & trademark legislation. The ex-dividend date is Thursday, May 4th. Baker Hughes's dividend payout ratio (DPR) is -10.83%. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Baker Hughes during the third quarter valued at approximately $4,941,000. Gamco Investors INC. ET AL increased its stake in shares of Baker Hughes by 10.9% in the first quarter. Partners Capital Investment Group Holdings LLC now owns 1,944 shares of the oilfield services provider's stock valued at $116,000 after buying an additional 5 shares during the last quarter. Rockefeller invested in 2,493 shares or 0% of the stock. The company presently has a consensus rating of "Hold" and an average target price of $62.33.

Baker Hughes Incorporated is engaged in the oilfield services industry.

The number of active oil and gas rigs in the United States rose for the eighteenth straight week, Baker Hughes reported on Friday-this time by 16.

Analysts at US financial services firm Cowen & Co said in a note this week that 60 exploration and production (E&P) companies planned to increase spending by an average of 51 percent in 2017 from 2016.