Pritchard Capital Provides Color on Baker Hughes

Pritchard Capital provided color on Baker Hughes BHI. In a research report published today, Pritchard states, “The U.S. rig count ticked up by one to 1,887 last week according to the Baker Hughes, Inc. (BHI-$75.07) data while the Smith Bits data indicated the count retreated by 13 to 1,742. Overall, last week was relatively quiet for the BHI count as the one rig advance came on the addition of a directional rig. The oil and miscellaneous counts rose by one to 1,007 and 7, respectively, which was partially offset by a one rig decline in the gas rig count.” On Friday, BHI lost 0.41% of its value to finish the day at $75.07. Its shares continued to slide in today's pre-market trading, falling 0.49% to $74.70.