Baker Hughes Inc. (BHI): Today's Featured Basic Materials Winner
Baker Hughes (BHI) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole was unchanged today. By the end of trading, Baker Hughes rose $1.20 (2.8%) to $44.11 on light volume. Throughout the day, 5.5 million shares of Baker Hughes exchanged hands as compared to its average daily volume of 7.5 million shares. The stock ranged in a price between $42.85-$44.11 after having opened the day at $42.90 as compared to the previous trading day's close of $42.91. Other companies within the Basic Materials sector that increased today were: Sunoco (SUN), up 20.5%, TGC Industries (TGE), up 14%, GeoMet (GMET), up 12.7%, and PostRock Energy (PSTR), up 10.4%. Baker Hughes Incorporated supplies oilfield services, products, and technology services and systems to the oil and natural gas industry worldwide. Baker Hughes has a market cap of $18.93 billion and is part of the energy industry. Currently there are 16 analysts that rate Baker Hughes a buy, no analysts rate it a sell, and seven rate it a hold. TheStreet Ratings rates Baker Hughes as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins.
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