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MarketScreener Homepage  >  Equities  >  Nyse  >  Baker Hughes A GE Co    BHGE

BAKER HUGHES A GE CO

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Baker Hughes A GE : U.S. Oil-Rig Count Falls by Four in Latest Week

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01/11/2019 | 02:38pm EDT

By Allison Prang

The number of rigs drilling for oil in the U.S. fell by four the past week to 873 rigs, 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 rose by four to 202, according to Baker Hughes.

The U.S. offshore-rig count is up by one from last week at 21, which is two more than a year ago.

On the New York Mercantile Exchange, West Texas Intermediate futures fell 2.2% to $51.42 a barrel.

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

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES A GE CO 0.51% 27.85 Delayed Quote.29.53%
WTI -0.46% 58.15 Delayed Quote.28.94%
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Financials ($)
Sales 2019 23 942 M
EBIT 2019 1 660 M
Net income 2019 783 M
Debt 2019 3 282 M
Yield 2019 2,59%
P/E ratio 2019 26,73
P/E ratio 2020 16,38
EV / Sales 2019 1,34x
EV / Sales 2020 1,22x
Capitalization 28 864 M
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Number of Analysts 29
Average target price 32,0 $
Spread / Average Target 15%
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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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