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MarketScreener Homepage  >  Equities  >  Nyse  >  Baker Hughes    BKR

BAKER HUGHES

(BKR)
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U.S. Oil Rig Count Falls by 14 in Latest Week

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09/20/2019 | 01:35pm EST

By Patrick Thomas

The number of rigs drilling for oil in the U.S. fell by 14 in the past week to 719, its lowest level in more than two years, according to oil-field services company Baker Hughes, a GE Company.

The U.S. oil-rig count is typically 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 has generally been rising since the summer of 2016.

The nation's gas-rig count fell by five to 148 rigs, according to Baker Hughes.

The U.S. offshore-rig count was down one from last week at 25 rigs, which is five more than a year ago.

Oil prices were 1.32% higher at $58.96 a barrel in afternoon trading Friday.

Write to Patrick Thomas at patrick.thomas@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES 0.18% 22.25 Delayed Quote.3.30%
GENERAL ELECTRIC COMPANY -0.99% 10.99 Delayed Quote.46.63%
JOHNSON MATTHEY PLC -0.53% 2791 Delayed Quote.0.25%
LONDON BRENT OIL -0.11% 64.04 Delayed Quote.16.84%
WTI -0.14% 58.87 Delayed Quote.28.48%
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Financials (USD)
Sales 2019 23 974 M
EBIT 2019 1 601 M
Net income 2019 410 M
Debt 2019 3 895 M
Yield 2019 3,21%
P/E ratio 2019 31,9x
P/E ratio 2020 18,9x
EV / Sales2019 0,76x
EV / Sales2020 0,69x
Capitalization 14 434 M
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Technical analysis trends BAKER HUGHES
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 29
Average target price 28,88  $
Last Close Price 22,21  $
Spread / Highest target 53,1%
Spread / Average Target 30,0%
Spread / Lowest Target 12,6%
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
Sector and Competitors
1st jan.Capitalization (M$)
BAKER HUGHES3.30%14 434
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NATIONAL OILWELL VARCO, INC.-9.11%9 013
TECHNIPFMC-2.96%8 494
DIALOG GROUP BERHAD--.--%4 679