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BAKER HUGHES

(BHGE)
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Baker Hughes : U.S. Oil-Rig Count Fell by Four in Latest Week

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09/06/2019 | 01:32pm EDT

By Allison Prang

The number of rigs drilling for oil in the U.S. fell by four in the past week to 738, according to oil-field services company Baker Hughes, a GE Company.

The U.S. oil-rig count typically is viewed as a proxy for activity in the sector. After peaking at 1,609 in October 2014, low oil prices put downward pressure on production and the rig count fell sharply. The oil-rig count generally has been rising since the summer of 2016.

The nation's gas-rig count fell by two to 160, according to Baker Hughes.

The U.S. offshore-rig count is the same as last week at 28, which is nine more than a year ago.

The price of West Texas Intermediate crude was 0.6% higher at $56.66 a barrel in afternoon trading Friday.

Write to Allison Prang at allison.prang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES 4.80% 23.81 Delayed Quote.5.67%
WTI 0.37% 61.98 Delayed Quote.21.48%
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Financials (USD)
Sales 2019 24 299 M
EBIT 2019 1 596 M
Net income 2019 426 M
Debt 2019 3 726 M
Yield 2019 3,02%
P/E ratio 2019 29,9x
P/E ratio 2020 16,5x
EV / Sales2019 0,77x
EV / Sales2020 0,71x
Capitalization 15 045 M
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Technical analysis trends BAKER HUGHES
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 28
Average target price 29,44  $
Last Close Price 23,81  $
Spread / Highest target 51,2%
Spread / Average Target 23,7%
Spread / Lowest Target 5,00%
EPS Revisions
Managers
NameTitle
Lorenzo Simonelli Chairman, President & Chief Executive Officer
Uwem Ukpong Chief Global Operations Officer
Brian Worrell Chief Financial Officer
Derek Mathieson Chief Marketing & Technology Officer
Jennifer Hartsock Chief Information Officer & Vice President
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BAKER HUGHES5.67%15 045
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TECHNIPFMC31.56%11 502
NATIONAL OILWELL VARCO-8.99%9 026
SAIPEM43.43%5 131