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MarketScreener Homepage  >  Equities  >  Nyse  >  Baker Hughes    BKR

BAKER HUGHES

(BKR)
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Delayed Quote. Delayed Nyse - 10/22 04:00:52 pm
22.63 USD   +2.31%
10/17BAKER HUGHES : BHGE Changes Its Name to Baker Hughes Company
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10/17BAKER HUGHES : SEC Filing 8K
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10/16BAKER HUGHES : Report
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Baker Hughes : Unveils Name, Board Changes Following GE Stock Sale

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09/16/2019 | 12:12pm EDT

By Colin Kellaher

Baker Hughes, a GE Co. (BHGE) on Monday unveiled changes to its corporate name and its board after a series of transactions that dropped General Electric Co.'s (GE) voting power below 50%.

The Houston oilfield-services firm said it will rename itself Baker Hughes Co. and trade under the symbol BKR, dropping the construct it adopted with the 2017 merger with GE's oil and gas unit that left GE with a 62.5% stake.

Baker Hughes said GE has completed a secondary offering of 132.25 million shares, including full exercise by the underwriters of an overallotment option of 17.25 million shares.

The company also bought back about 11.9 million shares from GE, which said its stake in Baker Hughes had fallen below 40%.

As a result of the transactions, Baker Hughes said GE is now entitled to one board designee instead of five. The company said GE selected John Rice to remain as its designee, and that Jamie Miller and James Mulva will resign from the board.

Baker Hughes said Lorenzo Simonelli and W. Geoffrey Beattie will continue as directors, but not as GE designees.

GE has been selling its Baker Hughes stake to both exit the business and raise cash to pare its debt load, and GE executives have said they plan to eventually wind down the holdings.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES 2.31% 22.63 Delayed Quote.2.88%
GENERAL ELECTRIC COMPANY 3.07% 9.06 Delayed Quote.19.68%
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Financials (USD)
Sales 2019 24 303 M
EBIT 2019 1 585 M
Net income 2019 407 M
Debt 2019 3 740 M
Yield 2019 3,18%
P/E ratio 2019 26,5x
P/E ratio 2020 16,2x
EV / Sales2019 0,76x
EV / Sales2020 0,69x
Capitalization 14 690 M
Chart BAKER HUGHES
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Technical analysis trends BAKER HUGHES
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Average target price 29,15  $
Last Close Price 22,63  $
Spread / Highest target 50,2%
Spread / Average Target 28,8%
Spread / Lowest Target 10,5%
EPS Revisions
Managers
NameTitle
Lorenzo Simonelli Chairman, President & Chief Executive Officer
Uwem Ukpong Chief Global Operations & Integration Officer
Brian Worrell Chief Financial Officer
Derek Mathieson Chief Marketing & Technology Officer
Jennifer Hartsock Chief Information Officer
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