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BHGE

Baker Hughes

$32.80

0.03 (0.09%)

13:05
07/13/18
07/13
13:05
07/13/18
13:05

Baker Hughes reports U.S. rig count up 2 to 1,054 rigs

Baker Hughes reports that the U.S. rig count is up 2 rigs from last week to 1,054, with oil rigs unchanged at 863, gas rigs up 2 to 189, and miscellaneous rigs unchanged at 2. The U.S. Rig Count is up 102 rigs from last year's count of 952, with oil rigs up 98, gas rigs up 2, and miscellaneous rigs up 2. The U.S. Offshore Rig Count is unchanged at 19 and down 2 rigs year-over-year. The Canada Rig Count is up 15 rigs from last week to 197, with oil rigs up 13 to 139 and gas rigs up 2 to 58. The Canada Rig Count is up 6 rigs from last year's count of 191, with oil rigs up 33 and gas rigs down 27.

  • 20

    Jul

BHGE Baker Hughes
$32.80

0.03 (0.09%)

06/26/18
STFL
06/26/18
NO CHANGE
Target $15
STFL
Hold
GE plan straightforward, but deleveraging execution still a concern, says Stifel
After GE (GE) concluded its strategic review and announced plans to distribute 80% of its healthcare unit to shareholders and sell the remaining 20%, exit its position in Baker Hughes (BHGE) over the next few years, and focus on aviation, power and renewable energy, Stifel analyst Robert McCarthy applauded management's "straightforward" plan, but said he remains concerned about execution on its intended deleveraging and liability risk that remains at GE Capital. McCarthy keeps a Hold rating and $15 price target on GE shares.
06/27/18
WBLR
06/27/18
NO CHANGE
WBLR
Outperform
GE announcement starts 3-stage process to accelerate value, says William Blair
After GE (GE) announced plans for a reinvention of its portfolio with the spinoff of GE Healthcare, William Blair analyst Nick Heymann told investors in a research note that the plans should unlock value from a final restructuring of GE's business portfolio, followed by optionality to monetize its 62.5% stake in Baker Hughes (BHGE) and Wabtec (WAB). Heymann, who continues to rate GE Outperform, says the announcement has ended GE "being under siege" by investors questioning whether it can sustain its dividend while reducing debt and resolving liabilities from GE Capital, and the announcement has also started a three-stage process to accelerate shareholder value: Revaluing GE Healthcare at a much higher multiple, shrinking GE's equity base from a tax-free exchange of the Baker Hughes and Wabtec stakes, with the third stage beginning in 2021, by which time he says Power, Aviation and Renewables should be simultaneously growing.
06/27/18
06/27/18
UPGRADE

Perform
General Electric upgraded to Perform on diminishing liabilities at Oppenheimer
As previously reported, Oppenheimer analyst Christopher Glynn upgraded General Electric (GE) to Perform from Underperform based on potential for portfolio plan to unlock some value, and diminish liabilities. The analyst notes that GE's announced break-up plans target a remaining core of Aviation, Power and Renewables, through process of Healthcare separation, exit 62.5% stake in Baker Hughes (BHGE) over two to three years, and pending transaction for Transportation.
06/29/18
WELS
06/29/18
UPGRADE
Target $8
WELS
Outperform
Nabors Industries upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Judson Bailey upgraded Nabors Industries (NBR) to Outperform with an unchanged price target of $8. The analyst sees further downside risk to pressure pumping and proppant pricing and favors defensive "value" stocks that have "somewhat limited" downside earnings risk. His top four picks remain TechnipFMC (FTI), Baker Hughes (BHGE), Weatherford (WFT) and Schlumberger (SLB).

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