BAKER HUGHES COMPANY

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Delayed Nasdaq  -  05/20 04:00:01 pm EDT
34.55 USD   -1.20%
03:34pUS Oil Rig Count Rises by 13 This Week, Baker Hughes Says
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01:39pU.S. drillers add oil and gas rigs for ninth week in a row -Baker Hughes
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01:07pU.S. drillers add oil and gas rigs for ninth week in a row -Baker Hughes
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Oil prices ease, focus shifts to next OPEC+ move

12/24/2021 | 01:14am EDT
FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve is seen in an aerial photograph over Freeport, Texas

* Brent crude falls in thin trading volumes

* OPEC+ meets on Jan. 4 to set policy

* Omicron advances across the world, triggering new restrictions

LONDON, Dec 24 (Reuters) - Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays, but the benchmark ended the week higher, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.

Brent crude futures settled 71 cents lower at $76.14 a barrel at the early close of 1300 GMT, rising by about 3% on the week.

U.S. markets are closed on Friday for the Christmas holiday.

Oil prices have recovered this week as fears over the impact of the highly infectious Omicron variant on the global economy receded, with early data suggesting it causes a milder level of illness.

"The omicron-is-mild rally could well continue into January now, but reality will bite in February I believe, as the end of the Fed taper moves into sight," OANDA analyst Jeffrey Halley said.

The U.S. Federal Reserve said last week it would end its pandemic-era bond purchases in March, paving the way for three interest rate increases that most Fed policymakers now believe will be needed next year.

The Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, will meet on 4 January to decide whether to go ahead with a 400,000 barrels per day (bpd) production increase in February.

Russia believes oil prices are unlikely to change significantly next year with demand recovering to pre-pandemic levels only by the end of 2022, Deputy Prime Minister Alexander Novak said on Friday.

Some investors remained cautious amid surging infection cases.

Omicron advanced across the world on Thursday, with health experts warning the battle against the COVID-19 variant was far from over despite two drugmakers saying their vaccines protected against it and despite signs it carried a lower risk of hospitalization.

Coronavirus infections have soared wherever the variant has spread, triggering new restrictions in many countries, including Italy and Greece, and record numbers of new cases.

Global oil demand roared back in 2021 as the world began to recover from the coronavirus pandemic, and overall world consumption potentially could hit a new record in 2022 - despite efforts to bring down fossil fuel consumption to mitigate climate change. (Additional reporting by Yuka Obayashi in TOKYO. Editing by Jane Merriman, Kirsten Donovan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.13% 0.7032 End-of-day quote.-3.01%
BAKER HUGHES COMPANY -1.20% 34.55 End-of-day quote.45.35%
BELIEVE 0.97% 9.91 End-of-day quote.-41.35%
BRITISH POUND / US DOLLAR (GBP/USD) 0.19% 1.2487 End-of-day quote.-7.89%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.17% 0.7783 End-of-day quote.-1.43%
EURO / US DOLLAR (EUR/USD) -0.18% 1.056 End-of-day quote.-6.97%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.59% 0.0128 End-of-day quote.-3.79%
LONDON BRENT OIL 0.94% 112.54 End-of-day quote.42.93%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.38% 0.6405 End-of-day quote.-6.67%
S&P GSCI BRENT CRUDE INDEX 0.15% 936.0862 End-of-day quote.41.19%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.00% 61.75 End-of-day quote.-17.11%
WTI 1.22% 110.515 End-of-day quote.43.34%
All news about BAKER HUGHES COMPANY
03:34pUS Oil Rig Count Rises by 13 This Week, Baker Hughes Says
MT
01:39pU.S. drillers add oil and gas rigs for ninth week in a row -Baker Hughes
RE
01:07pU.S. drillers add oil and gas rigs for ninth week in a row -Baker Hughes
RE
11:20aNew Stratus Energy Reports LOI for Baker Hughes; Down 7.2%
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08:13aWall Street Leans Forward Premarket; Futures Green, Europe Up, Asia Higher
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07:10aWall Street Leans Forward Pre-Bell; Futures Green, Europe Up, Asia Higher
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05/19US ECONOMICS : Baker Hughes Rig Count on Friday's Agenda
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05/18BAKER HUGHES CO : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Submiss..
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05/17Baker Hughes Declares Quarterly Dividend
BU
05/17Baker Hughes Declares Quarterly Dividend, Payable on June 10, 2022
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Financials (USD)
Sales 2022 22 132 M - -
Net income 2022 1 050 M - -
Net Debt 2022 2 743 M - -
P/E ratio 2022 30,6x
Yield 2022 2,06%
Capitalization 34 017 M 34 017 M -
EV / Sales 2022 1,66x
EV / Sales 2023 1,45x
Nbr of Employees 55 000
Free-Float 90,2%
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Mean consensus BUY
Number of Analysts 26
Last Close Price 34,97 $
Average target price 40,24 $
Spread / Average Target 15,1%
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Managers and Directors
Lorenzo Simonelli Chairman, President & Chief Executive Officer
Brian Worrell Chief Financial Officer
Jeff Fleece Chief Information Officer
Gregory D. Brenneman Independent Director
Clarence Peter Cazalot Independent Director
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